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Korea Exim News

Korea Eximbank selected the Carbon fund operator

Date 2010.01.05 View 35267
□ Korea Eximbank (, President Kim Dongsoo) expressed on August 13th that Korea Investment Trust Management Corporation will operate a KRW 100 billion carbon fund and will seek investors.

◎ The Bank expects to attract the targeted amount for the fund even before September as many high energy consuming enterprises, companies involved in the overseas CDM industry, and public sector organizations interested in carbon credits have shown great interest in participating in the carbon fund.

□ According to one Korea Eximbank official, “The carbon fund is formed with the participation of both the private and public sectors in order to facilitate the entry of Korean companies into the overseas carbon credit market and the development of green financing. As such, investors will be selected based on a variety of factors such as experience and expertise in the carbon credit industry, partnerships with organizations specializing in carbon credits, strategies for stable profitability, and risk management tailored to the special needs of the CDM industry.

◎Korea Investment Trust Management Corporation is the sole company in Korea with expertise in operating a carbon fund and a partnership with Orbeo, an international carbon credit broker based in France.

□ Korea Eximbank expressed that it will support stable operation of the carbon fund by financing projects invested by the fund and purchasing carbon credits from overseas CDM projects participated by Korean firms.

□ Plans for the KRW 100 billion carbon fund was decided upon in March. Since then, Korea Eximbank has collaborated with the government to prepare the necessary legal and systematic frameworks for the establishment of the fund.