□ The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yoon Hee-sung, “Korea Eximbank") announced on February 22 that it signed a Memorandum of Understanding (MOU) titled ‘MOU for Cooperation in High-tech Industries and Supply Chains’ with KfW IPEX-Bank of Germany (”KfW IPEX“).

* KfW IPEX-Bank : It is a wholly owned subsidiary of KfW (Kreditanstalt fur Wiederaufbau, an export credit agency of Germany), with a mission to support German and European companies’ overseas projects and export transactions.

ㅇ Korea Eximbank Chairman Yoon Hee-sung met with Dr. Velibor Marjanovic, member of the Board of KfW IPEX, on February 21 at the headquarters of KfW IPEX in Frankfurt, Germany.

ㅇ The key provisions of the MOU outline joint identification and financing of projects in high-tech industries, decarbonization, and supply chains of core minerals. 

□ This will enable Korea Eximbank to provide financial support with competitive conditions for Korean companies participating in supply chain projects in electric vehicle and secondary battery sectors and other high-tech sectors. These include hydrogen and ammonia plants, renewable and hydrogen energy, and eco-friendly marine vessels.

□ Following the MOU signing, Chairman Yoon remarked, “Korea Eximbank has established a cooperative foundation with KfW IPEX, a specialist bank in export and project financing that puts a strategic priority on supporting high-tech industries for decarbonization and infrastructure investments in Europe.” He added, “By leveraging our bank’s global networks, we will actively support joint responses between our two countries in strategically important technologies and supply chains, ensuring Korean companies leading the way in emerging industries.”

□ Dr. Marjanovic agreed with Chairman Yoon’s remarks, saying “Korea Eximbank is a reliable policy financial institution that many European countries, including Germany, seek to partner with across various sectors.” He continued to say, “ This MOU is expected to facilitate joint projects undertaken by Korean, German, and other European companies, especially in sectors in core mineral supply chains and strategic technology fields like renewable energy and hydrogen.”