Korea Eximbank to Provide 80 Trillion Won for Policy Financing

The Export-Import Bank of Korea (Korea Eximbank) is providing 80 trillion won (US$74 billion) for policy financing this year, which is the largest amount in history.

Korea Eximbank plans to supply 45.5 trillion won (US$42.1 billion), which accounts for 57 percent of the total, for national strategic industries such as overseas construction and plants, offshore and shipbuilding, and natural resource development.

The bank also will provide 2.5 trillion won (US$2.3 billion) for the service industry, which has significant job creation impacts and economic ripple effects including health and medical services, logistics, and finance.

It plans to assign 26.5 trillion won (US$24.5 billion) for strengthening the global competitiveness of small and medium exporting enterprises.

In addition, as the Korea Eximbank is the chair bank of the North East Asian Economic Cooperation Administration (ECA) consisting of Russia, China, and Mongolia, it will lead the way to building a foundation for unification by taking the lead in multilateral cooperation like the development of the Rajin-Hassan free trade zone.