The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Kim Yong-hwan, “Korea Eximbank”) announced on December 12 that it held a joint seminar with global investment banks and Korean commercial banks on how to enhance co-financing of overseas projects at Ferrum Tower, Seoul. A total of 38 domestic and foreign financial institutions were invited to the seminar.

This seminar, held for the second time since last year, was aimed at increasing the availability of financing for overseas projects by exchanging information and strengthening the network among Korea Eximbank, investment banks, and Korean commercial banks.

The event was attended by around 120 delegates from 38 project finance-related entities, including major Korean commercial banks such as Kookmin Bank and Shinhan Bank, international investment banks such as BNP Paribas and HSBC, and law firms at home and abroad.

The seminar was conducted in two sessions.

The first session introduced Korea Eximbank’s project financing strategy to implement the Government Plan to Promote Korean Participation in Overseas Construction and Plant Deals.

Presentations on the outlook for the overseas project finance market and the project financing strategies of Korean banks were especially well received by the audience.

The second session covered Korea Eximbank’s ship financing guarantee programs including its recently launched ship bond guarantee, the project finance-related investment strategies of Korean securities firms, legal issues relating to project bonds, and trends in the North American LNG market.

In his opening remarks, the bank’s Senior Executive Director Sul Young-whan noted, “Increased participation by Korean firms in overseas projects is something to be pursued not just for the sake of growth for those firms, but also for the development of strategic export industries, as well as for enhancing the competitiveness and global reach of Korean financial institutions,” adding that “Korea Eximbank will energetically explore opportunities to expand co-financing with commercial banks, securities firms, insurers, and investment banks, taking into account their respective characteristics.”

Korea Eximbank plans to further strengthen its cooperation with financial institutions at home and abroad with the aim of establishing a comprehensive system of financial support for overseas projects.