□ On March 7, Korea Eximbank (www.koreaexim.go.kr, Chairman & President Yong Hwan Kim) announced that the Bank has committed USD 100 million to support a 100 MW wind farm development project in two US states implemented by Daewoo Shipbuilding & Marine Engineering (DSME) Co., Ltd.

□ This most recent support by Korea Eximbank is a continuation of support first initiated in 2009 to assist DSME secure core technologies in wind turbines and manufacturing capabilities for related equipment so that DSME may enter overseas markets. As such, this case represents the first time Korea Eximbank financed the entire process involved in a Korean company entering an overseas wind power market.

□ From the initial stages of DSME’s entry into the wind power sector since 2009, Korea Eximbank provided DSME with financial support as well as non-financial services such as feasibility reviews and analysis of overseas trends in the wind power sector.

○ In order to fully provide DSME with needed funds for a successful execution of the project, Korea Eximbank actively sought the cooperation of Woori Bank, a domestic commercial bank.

○ Furthermore, Korea Eximbank minimized financial burdens on DSME by providing a bridge loan in advance of a cash grant, which is to be provided by the US government as part of it’s renewable energy assistance policy after completion of a project. Under the bridge loan program, DSME would be allowed to repay the loan after receipt of the cash grant.

□ An official from Korea Eximbank stated, “the financial support will greatly assist Korean companies, with insufficient track records, enter the wind power sector as a overseas investment development project.* ”

○ “Through the Green Pioneer program,** Korea Eximbank will strengthen its role as a specialized agency in green finance to actively support Korea’s export of services and products in green growth industries such as wind power,” he added.

* High-value creating project in which a Korean company participates as an equity investor, EPC (Engineering, Procurement, Construction) contractor, as well as O&M (Operation & Maintenance) company.

** Green Pioneer Program: comprehensive assistance policy of Korea Eximbank aimed to systematically support green industry development by adopting strategies to simultaneously develop overseas market and expand domestic market for green companies in Korea.