□ Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) announced that the Bank opened a representative office in Hanoi, Vietnam which began operations after holding an opening ceremony on May 4.

○ The Hanoi office will support local business activities of Korean companies in Southeast Asia as well as promote economic cooperation between Korea and Vietnam through EDCF.

□ The opening ceremony was attended by over 80 government officials from Korea and Vietnam including Chairman of Korea Eximbank Yong Hwan Kim, Korean Ambassador to Vietnam Chan Ho Ha, Deputy Prime Minister of Vietnam Hoang Trung Hai, Minister of Transportation Ho Nghia Dung, Deputy Minister of Planning and Investment Cao Vite Sinh, and Deputy Minister of Finance Truong Chi Trung.

○ Chairman Kim greeted attendants saying, “With the Hanoi office now open, it will work with the Ho Chi Minh local subsidiary which was established in 1997 and complete the financial support system encompassing both North and South Vietnam. I anticipate it will serve as a new chapter in promoting bilateral economic cooperation between Korea and Vietnam.”

□ Korea Eximbank has played a leading role in promoting bilateral economic cooperation through KRW 5 trillion in support for trade and invest in Vietnam by Korean companies. The Bank also provided approximately KRW 1.4 trillion through EDCF for infrastructure construction in Vietnam.

○ Trade volumes between the two nations have jumped 32 times in 19 years from USD 500 million in 1992 to USD 16.1 billion today. Vietnam is by far the largest beneficiary of EDCF.