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On the same day, Korea Eximbank also signed an MOU with Total S.A., a global leader of the oil & gas industry.

Chairman Kim met with Total CEO Patrick de la Chevardière and signed the MOU which covers, among other things, cooperation regarding Total’s projects in which Korean companies participate as sponsors, EPC contractors, or off-takers.

Total has already cooperated with Korean companies including Korea Eximbank in four projects including Saudi Arabia’s Satorp Oil Refinery project (total value: USD 12.8 billion) and Australia’s Ichthys LNG project (total value: USD 34 billion).

At present, Korea Eximbank and Total are working together with Russia’s Novatek to develop the Yamal LNG project, a USD 34.5 billion deal.

Total has placed orders for 16 ice-class LNG carriers made by Daewoo Shipbuilding & Marine Engineering for USD 5 million in order to export LNG to be produced from the Yamal LNG project.

Also, Korea Eximbank is discussing with Total a possible financing of USD 1 billion for Korean companies bidding for Total’s gas drilling facility construction and material supply contracts.

Mr. Chevardière remarked, “It is our pleasure to have signed this MOU with the globally renowned Korea Eximbank on the occasion of President Park Geun-hye’s visit to France. We hope this will serve to bolster our cooperation with Korean companies even further.”

After the signing ceremony, Chairman Kim said, “Korea Eximbank will continue to enlarge its network with global energy players such as Total in order to create more opportunities for Korean companies in the international market.”

Also on the same day, Chairman Kim signed an MOU with Societe Generale, the French bank specializing in project-related financial advisory and arrangement services, to support major projects in strategic industries such as natural resources or infrastructure in which Korean companies participate.

In particular, the two institutions agreed to actively cooperate on projects involving Korean financial institutions such as commercial banks, life insurers, and pension funds, for example by jointly identifying and sharing information on opportunities for such projects.