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Korea Exim News

Korea Eximbank Selected as Best Asian ECA by Trade Finance

Date 2010.07.22 View 29428
□ On July 8, Korea Eximbank (www.koreaexim.go.kr President Kim Dongsoo) announced it was selected as the Best Asian ECA and Best ECA in the Middle East by Trade Finance Magazine.

※ Export Credit Agency (ECA): A government established financial institution working to promote exports and support foreign transactions.

※ Trade Finance Magazine: A finance-export magazine company headquartered in London. It annually selects an organization as the "Best ECA" based on surveys of major banks and corporate managers as well as its own assessment.

□ Korea Eximbank was selected as the "Best ECA in Asia" on the basis of active efforts to provide financial supports during the financial crisis in 2009. In addition, Korea Eximbank was acknowledged for its active achievements in the Middle East amidst heavy competition for contracts against ECAs such as Cofac (France) and Hermes (Germany).

○ Korea Eximbank is the first institution to be awarded the title of Best ECA in Asia and the Middle East simultaneously.

□ A Korea Eximbank representative stated, "Our firm commitments for financing large-scale projects despite the financial crisis and provision of optimal financing were highly regarded. Looking ahead, we plan to actively support green industries including the UAE nuclear power project, plants, and resources development."