□ On August 5 at Bank headquarters, Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) concluded an MOU with Korea Development Bank (KDB) to strengthen overseas project financing and build a financial cooperation model among policy lenders.

○ This is the first time Korea Eximbank collaborated with KDB to build a financial cooperation model for large-scale overseas project financing of Korean companies.

□ Under the MOU, the two leading banks in domestic and overseas large-scale project financing would be able to collaborate in overseas PF, for projects participated by Korean companies as investors and developers. This MOU will maximize the synergy between the two banks to better assist Korean companies win bids for overseas projects and expand overseas.

○ The agreement would also integrate each bank’s expertise in fostering infant industries* for enhanced early identification and promotion of global green companies to lead overseas expansion in new growth industries.

* A new industry requiring assistance to compete with established competitors abroad to reach its high potential for future growth.

□ Executive Director of Planning & Coordination Group Ki-Sub Nam stated, “Strengthening financial competitiveness and financial support are necessary to revitalize overseas expansion by Korean companies. By sharing their expertise and know-how in project financing, Korea Eximbank and KDB will actively support our companies to secure substantial competitiveness in large-scale overseas projects.”

□ Executive Director of KDB Se-il Kong stated, “With the conclusion of the agreement, KDB will strive to resolve financing difficulties of Korean companies working to expand overseas by building a cooperation system with Korea Eximbank.”

□ Upon the conclusion of the agreement, both banks will hold regular business meetings and exchange human resources when necessary.