□ In its 2010 1Q export forecast, Korea Eximbank (www.koreaexim.go.kr, Chairman Dongsoo Kim) predicted an export growth rate of approximately 30% thanks to a strong comeback in exports.

□ The Bank anticipated a growth of 33%, the highest growth rate since the 4Q of 2004. The forecast was based on the current rate of recovery in the export markets and the dismal performance of the same quarter the previous year.

○ According to a representative from Eximbank, “The Bank's Leading Export Index*, the standard for future economic outlooks in exports, indicated continuous growth in developing countries such as China and India, rapid market recoveries in developed countries such as the US, and increased unit prices for exports (2.0% increase from the previous quarter) for the last three consecutive quarters. As such, the Bank anticipates continued expansion of export markets.”

* Leading Export Index: A composite index that predicts the outlook of the export market by utilizing variables that influence Korea's exports such as the economic status of major importing countries, prices of export products, export forecasts by industry, and sales forecasts of companies.

○ Companies are also positive about a recovery in exports. The Export Business Expectation Index (EBEI), which measures the expectations of Korean companies for improved conditions in exports, reached 110, exceeding the standard level of 100.

□ Nevertheless, “the Bank will strive to provide even greater support particularly for SMEs and green growth sectors to increase exports further,” stated the representative.