The Export-Import Bank of Korea announced on April 30 that it would host the IDB Trade Finance Guarantee Seminar at 3 PM, May 3 at Bank headquarters.

The seminar will provide details on the USD 1 billion trade finance guarantee contract signed with IDB last March and will cover practical applications for Korean exporting firms.

This seminar will emphasize case examples of market expansion into Latin America by Korean firms and provide details on lesser-known export trade financial products such as interbank export credit*, letter of credit confirmation (L/C confirmation)**, etc.

* Financing provided by Korea Eximbank via local banks to facilitate the purchase of Korean goods by Latin American importers.

** Confirmation of letter of credit issued by overseas banks guaranteeing payment of exports.

Participation is free of charge and reservations can be made with the Bank’s Interbank Export Credit Office (02-3779-6373) until 5 PM, May 2.

A representative of Korea Eximbank stated, “The Bank provides a variety of financial products with IDB to assist Korean export firms obtain funding and recover export payments. We hope to have many export firms hoping to enter the region attend the seminar.”