The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-hoon, ‘Korea Eximbank’) announced on May 9 that the bank signed an MOU for ‘Jointly Identifying and Investing in Overseas Projects’ with National Pension Service (www.nps.or.kr, Chairman Choi Kwang).

Korea Eximbank Chairman Lee Duk-hoon and NPS Chairman Choi Kwang signed the MOU at the bank's headquarters in Yeouido.

The intent of the MOU is to combine the expertise the two institutions have respectively accumulated in the fields of overseas project financing and overseas investment, the better to assist the participation of domestic companies in foreign projects.

As government-owned financial institution specialized in supporting cross-border transactions, Korea Eximbank has a wealth of experience providing overseas project loans and guarantees.

NPS, on the other hand, is a globally recognized pension fund known for its solid fund management capability.

Following the signing of the MOU, Korea Eximbank and NPS will work toward jointly participating in overseas projects either by investing directly in equity shares of project companies or indirectly through collective investment vehicles (funds).

Among the anticipated benefits of the MOU is a sharp increase in the amount of financial resources to support overseas projects involving Korean companies (including investment-development type projects) and an expansion of high-return investment opportunities.

The bank and NPS also plan to share information on overseas projects, conduct joint market research and analyses, and exchange personnel for skill development.