The Export-Import Bank of Korea announced on June 18 that it signed a memorandum of understanding for educational cooperation with University for Peace to assist children of multicultural backgrounds become global leaders.

University for Peace, established in 1980 through a resolution of the United Nations General Assembly, is the only UN-mandated institution of higher education for peace and aims to nurture individuals who will promote understanding and tolerance for humanity and peaceful coexistence.

The third overseas office of the University for Peace was established in Seoul (after New York and Geneva) in May 2007, and its Asia Pacific Center was established in Seoul (the first in Asia) in 2008.

UN Secretary General Ban Ki-moon serves as the Honorary President of University for Peace.

As specified in the MOU, the Bank will not only provide financial support, such as scholarships and other logistical support, but also operate educational programs with the World Education Agency (KOWEA), a private organization supporting multicultural families, to help educate talented individuals.

This December, the Bank will even be hosting “Global Star Camp” in Munmak, Gangwon Province to help participants gain confidence and build self-esteem.

During Global Star Camp, 160 participants will learn about effective study habits and what it takes to be a global leader.

After the camp, the children will be mentored by university student volunteers and given opportunities to participate in overseas volunteer programs.

Chairman Yong Hwan Kim of the Export-Import Bank of Korea commented at the signing of the MOU that, “There has been a significant rise in the number of multicultural families in Korea. As such, we must do more to support the children of such families so they can take part in tomorrow’s global arena.”

President John Maresca of University for Peace added, “The cooperation between Korea Eximbank and University for Peace in providing continued support for children of multicultural families will help foster strong leaders who will contribute much to Korea.”

In addition to this program, the Bank also implements various other social programs such as SEED, the Bank’s social contribution program assisting marginalized groups and supporting international volunteer efforts.