The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman EUN, Sung-soo, Korea Eximbank”) held a meeting on May 8 with local institutions to help Korean small-and medium-sized companies advance into the international procurement market.
 

A total of seven organizations* attended the meeting held at the headquarters of Korea Eximbank in Yeouido.

 * Export-Import Bank of Korea (Korea Eximbank), the Korea International Cooperation Agency (KOICA), International Contractors Association of Korea (ICAK), Korea Engineering & Consulting Association (KENCA), Korea Environmental Industry Technology Institute (KETI), National IT Industry Promotion Agency (NIPA), and Korea Medical Devices Industrial Cooperative Association (KMDICA)

The institutions shared information on the results of the Feasibility Studies (F/S) they have undertaken and discussed how to avoid overlapped supports for SMEs and provide support for priority areas in an efficient way.

They also sought ways to draw EDCF support for the F/S that have been carried out in order to successfully implement overseas projects.

In addition, they spoke about plans for the “Workshop for Domestic Small and Medium Companies’ Entry into the International Procurement Market” which is scheduled to be held in the second half of this year, including the timing, program, arrangement of experts from MDBs, such as the World Bank, Asia Development Bank and Asian Infrastructure Investment Bank.

A Korea Eximbank official said, "This event is a good example of cooperation between related institutions to enhance the efficiency of the official development assistance (ODA) by examining the F/S support system from a broad perspective and sharing the status and information of their F/S to find overseas project opportunities and seek ways to cooperate with EDCF."

He added, "We will do our best to support domestic small-and medium-sized firms with excellent technology and products to advance into the international procurement market funded by global institutions such as MDBs."