Korea Consulting Center for Overseas Infra & Plant Projects ("KoCC") opened its doors, with the aim of providing information and financing regarding overseas construction projects.

The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Kim Yong-hwan, “Korea Eximbank”) announced on January 13 that it held the opening ceremony of KoCC at its headquarters in Yeouido, Seoul, at 17:30 that day.

The ceremony was attended by some 100 people including Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh-seok, Financial Services Commission Chairman Shin Je-yoon, National Assemblymen Kim Tae-won and Park Dae-dong, KDB Financial Group CEO and Korea Development Bank Chairman Hong Kyttack, and Korea Trade Insurance Corporation (K-Sure) Chairman and President Kim Young-hak.

The mission of KoCC is to provide information on overseas projects and to offer government policy-based financing services (such as performance guarantees for SMEs and medium-large companies) to Korean construction and engineering companies seeking participation in such projects, in accordance with the Government Plan to Promote Korean Participation in Overseas Construction and Plant Deals finalized at the 136th Ministerial Meeting on International Economic Affairs in August 2013.

KoCC consists of three divisions, and is staffed by some 20 personnel dispatched mainly by Korea Eximbank, but also by K-Sure, KDB, International Contractors Association of Korea, and Construction Management Training Center.

Starting operation from the very day of its opening, KoCC will provide such services as assistance with project planning and structuring, financial arrangement, and financial advice in a one-stop package to companies eyeing project opportunities abroad.

Korea Eximbank Chairman Kim Yong-hwan remarked, "Government policy-based financing assumes an ever-increasing role as the financial competitiveness of companies directly translates into their competitiveness in winning overseas projects," adding that "At the same time as gathering information on overseas projects, KoCC will focus on supporting SMEs and medium-large companies that lack the capacity to develop and finance projects on their own.”


* KoCC Contacts
E-mail: kocc@koreaexim.go.kr