(continued from part 1 of 2)

Chairman Yong Hwan Kim of the Export-Import Bank of Korea commented after the signing, “The Central and South American region, with its high economic growth rates and abundant natural resources, is increasingly becoming an important export market for South Korea.”

He added, “This trade finance guarantee contract will further stimulate Korea’s exports to Central and South America and foster infrastructure development in the region through co-financing with IDB.”

On a separate account, the Bank signed an Interbank Export Credit contract of USD 50 million on March 20 in Montevideo with Bancolombia, the largest commercial bank in Colombia.

As a result of this contract, Korean exports to Columbia will be financed through Bancolombia.

From March 4 to March 13, Bank representatives visited 24 major sponsors, government entities, shipping and transport companies, and banks in Brazil, Mexico, and Columbia in an effort to expand its network and support projects participated by Korean companies.

During the visits, the Bank expressed plans to actively support projects by Korean firms and negotiated joint financing with local financial institutions.