□ On March 3, President Dongsoo Kim of the Export-Import Bank of Korea met with the Vice President of MIGA and the World Bank Izumi Kobayashi to sign a guarantee agreement providing joint guarantees to Korean companies making foreign investments.


○ This agreement will provide joint support in the form of guarantees to Korean companies making foreign investments, facilitate information exchange and cooperation in international projects, and serve as the foundation for regular consultative meetings.

□ MIGA (Multilateral Investment Guarantee Agency), an international organization established in order to promote foreign direct investment, provides private companies or banks with guarantees against possible losses incurred as a result of remittance problems, contract violations, wars, etc.

○ MIGA is affiliated with the World Bank Group. The president of the World Bank also serves as the president of MIGA and the vice president is entrusted with actual management.

□ "Diversification of overseas markets have increased investment risks. The joint support of Korea Eximbank and MIGA will undoubtedly support greater entry of Korean companies into overseas markets" stated a representative of Korea Eximbank.