On June 27, the Export-Import Bank of Korea announced that personnel were reassigned and the organization was restructured to better support Korean participation in large-scale overseas projects.

Among the changes, the most prominent is expansion and name change of the Investment Banking Office to the Financial Advisory and Structuring Department. The new department will be in charge of large-scale overseas project identification as well as financial advisory and arrangement services.

In addition, the International Relations Office was upgraded and expanded to department status in light of the importance of strengthening networks with overseas financial institutions and major sponsoring institutions.

The Bank also newly established the Project Finance Support Office, which will work in close cooperation with Korean policy banks, commercial banks, and export related companies. The role of the Engineering and Environment Advisory Office was expanded as well to better provide environmental impact assessments in line with international standards.

The Bank also restructured loan departments and established the Overseas Construction Finance Office to effectively support Korean construction companies expansion into emerging construction markets such as the Middle East.

Chairman Yong Hwan Kim of the Export Import Bank of Korea commented, “This organizational restructuring aims to strengthen our capacity in three key service areas, namely, financial advisory and arrangement, domestic and global network, and engineering and environment evaluation, to effectively assist Korean companies secure and execute large-scale overseas projects. We will actively support Korean exporting companies overcome difficulties of the EU financial crisis by reviving markets in the Middle East.”

Amidst the recent changes, Executive Director Seop Shim was newly appointed to the Board of Directors while Director General Yeong Pyo Hong of the Business Coordination Department and Director General Man Ik Chang of the Planning Department were promoted to the executive director position.

Since joining Korea Eximbank in 1983, Executive Director Seop Shim has served in a number of key positions including Director General of the Economic Development Cooperation Fund (EDCF) Operations Department, Director General of the Green Finance Department, and Director General of the Industry and Overseas Investment Research Office. With over 13 years of experience in official development assistance, Mr. Shim contributes significantly to the development and innovation of EDCF.

Since his appointment as the Executive Director for the EDCF Planning Group in December 2010, he has played a leading role in successful operation and expansion of EDCF.

The newly appointed Executive Director for Trade and Investment Credit Group, Yeong Pyo Hong, is an expert in loan policies and has served in key positions including Director General of the Business Coordination Department, Director General of the Natural Resources Department, Director General of KEXIM Vietnam Leasing Co., Ltd., and Director General of the Public Relations Office. An expert in loan policies, he oversaw the loan policies of Korea Eximbank and successfully initiated the Global Pass program, a program for accompanied growth.

The newly appointed Executive Director for Inter-Korean Cooperation Fund Group, Man-ik Chang, has served in key positions such as Director General of the Planning Department, Director General of the Auditing Department, Director General of the SME Finance Department, and Director General of the Beijing Representative Office and Shanghai Representative Office. An expert in planning and strategy, he strengthened the Bank’s capacity to secure large-scale projects, increased support for exporting firms, oversaw organizational restructuring efforts, and expanded the Bank’s capital base.