- With financial packages with optimal terms set via close data sharing between the institutions
- Improve the efficiency of policy financing by prioritizing projects having the most effect of job creation
- Spearhead the overseas business of Korean financiers


■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Moon Jaedo, president) announced on January 22 that it signed a MOU with the Export Import Bank of Korea (Korea Eximbank, www.koreaexim.go.kr, Eun Sung-soo, president) to support Korean companies’ overseas project deals and job creation.


■ This MOU aims to provide policy support to Korean companies’ overseas projects of Korean companies which have been under a daunting situation caused by prolonged global economic downturn. The MOU contains various support measures including ▲ early stage cooperation between the institutions to help Korean companies find and win overseas project opportunities; ▲ prioritization of projects having the most effect of job creation and; ▲ promotion of Korean financial companies’ overseas business.


■ In specific, K-SURE and Korea Eximbank agreed to cooperate by sharing overseas projects related data from the initial stage of Korean companies’ project bidding.


■ Also, the two institutions agreed to enhance the efficiency of policy funding by prioritizing projects having the most effective effect of job creation by evaluating the level of Korean SMEs’ participation or Korean contents - such as parts and equipments - used in the project.


■ Lastly, K-SURE and Korea Eximbank also decided to increase the role of private funding given the increasing size and scale of overseas projects. By doing so, the two expect to broaden the business base of Korean financiers in the global project financing market.


■ To ensure the implementation of what is agreed in the memorandum, the two also agreed to hold regular meetings at the executive level to ensure the efficiency of mutual cooperation.


■ An official of K-SURE commented that, “At a time when the collaboration between K-SURE and Korea Eximbank is ever more important, signing of the MOU comes at the most timely and appropriate moment. With this MOU, K-SURE expects the level of mutual cooperation would further deepen, boosting Korean companies’ bid winning competitiveness while spearheading the overseas business of Korean financial companies.”