The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yong Hwan Kim, “ Korea Eximbank”) hosted a roundtable conference on shared growth for large and small/medium enterprises on August 9 (local time) in St. Petersburg, Russia.

Held at Hyundai Motors Manufacturing Russia (HMMR), the conference aimed to enhance the Bank’s understanding of the difficulties faced by Korean firms in Russia and to provide real support and assistance through the Bank’s shared growth program.

Nine presidents in charge of subsidiaries in Russia, including HMMR CEO Gui-Il Chun, Donghee Motors CEO Jong Hwan Lee, and Sung Woo High Tech CEO Jung Soo Bae participated in the meeting.

Chairman Yong Hwan Kim of Korea Eximbank commented, “Cooperation between large corporations and SMEs is crucial for successful localization of overseas manufacturing facilities. Korea Eximbank will assist such settlement efforts for development of SMEs into global leaders.

Korea Eximbank implemented the Global Pass Program, an initiative promoting shared growth, last December to provide effective support to Korean exporting SMEs. The Bank has committed KRW 1 trillion in annual support for SMEs jointly advancing into overseas markets with large corporations.

On June 21, Korea Eximbank concluded a support agreement for shared growth with Hyundai Motors and its partner enterprises.

Under the agreement, over 230 SME partner enterprises of Hyundai Motors are able to receive timely financial support at favorable interest rates discounted by 0.5%p. This translates into a savings of KRW 3 billion for their operations in countries such as the US, China, and India.

Prior to the conference, Chairman Kim visited Donghee Manufacturing Corporation in Russia to view the manufacturing facilities and express support to the staff.

Donghee Corporation is a medium-sized enterprise and the sole supplier of fuel tanks for Hyundai Motors. In collaboration with Hyundai Motors, Donghee Corp. entered markets such as Russia, the Czech Republic, Slovakia, China, and Turkey.

Since his appointment as Chairman of Korea Eximbank last February, Chairman Kim has participated in 20 roundtable conferences for Korean exporting SMEs and has conducted numerous site visits.

In regards to the recent conference in Russia, a representative of Korea Eximbank explained, “This was the first time we hosted the conference overseas to discuss the difficulties SMEs faced in overseas markets and develop effective support strategies.”

In response to the fiscal crisis in Europe and to promote Korean exports and overseas investments, Korea Eximbank substantially increased overall financing amounts by KRW 6 trillion year-on-year to provide KRW 38 trillion in the first half of 2012.