□ On August 30, Korea Eximbank (www.koreaexim.go.kr, Chairman & President Yong Hwan Kim) signed an MOU facilitating overseas expansion with 13 leading companies* in the electric power industry at Seoul Palace Hotel.

○ With regard to Korea’s plant exports in 2010, the electric power industry accounted for 38% and USD 17.3 billion. Currently, companies are working to become investment developers directly participating in project identification and operation, so the electric power industry is anticipated to increase its share of plant export.

* Daelim, Daewoo E&C, Doosan Heavy Industries & Construction, Samsung C&T, Samsung Engineering, SK E&C, GS E&C, POSCO E&C, POSCO Power, Hanhwa E&C, Hyundai E&C, Hyundai Engineering, Hyundai Heavy Industries

□ Under the MOU, Korea Eximbank will identify new projects in cooperation with electric power companies, provide customized financial advisory and arrangement services, and establish efficient and effective business partnerships to improve global competitiveness of the Korean electric power industry.

○ For effective support and joint identification of overseas projects, Korea Eximbank and electric power companies plan to maintain close cooperation including information and human resources exchange, business training, and if necessary, establish and operate task force teams for each project.

□ Chairman Kim stated, “Under the current trend of large-scale plants and financing arrangement before contracts, financing capacity is a key factor in winning contracts and is as important as technological competitiveness.”

○ “In order to stimulate expansion into overseas markets by plant industries such as the electric power industry, Korea Eximbank will utilize its knowledge of having supported the shipbuilding industry to become the global leader and will provide not only customized financing but also IB services including financial advisory and arrangement services for investment-development projects.”

□ Jong-Uk Seo, CEO of Daewoo E&C, stated, “The MOU will create momentum for joint development of the Bank and the plant industry. We need active support for effective development of green growth industries such as new & renewable energy and nuclear power in addition to traditional electric power.”

□ The signing ceremony was attended by Korea Eximbank Chairman & President Yong Hwan Kim, Daelim Vice Chairman Jong-In Kim, Daewoo E&C CEO Jong-Uk Seo, Doosan Heavy Industries & Construction COO Key-sun Han, SK E&C CEO & Vice Chairman Suk-Kyong Yoon, POSCO E&C President Dong-hwa Chung, Hanhwa E&C CEO & Vice Chairman Hyun-Chung Kim, Hyundai E&C CEO Soo-hyun Jung, and Hyundai Engineering President Wee-Chul Kim.