Chairman Eun Sung-soo of the Export-Import Bank of Korea (www.koreaexim.go.kr, “Korea Eximbank”) met with Governor Akira Kondoh of the Japan Bank for International Cooperation (“JBIC”) on April 12 at the headquarters of JBIC in Tokyo, Japan to strengthen cooperation between the two institutions in supporting companies of the two countries to jointly win overseas infrastructure and power plant projects.

The two leaders exchanged their business strategies in areas such as countries of interest in relation to diversification of investment portfolio, and discussed measures to promote the joint entry of Korean and Japanese companies into third countries.

In addition, the two institutions held a seminar, entitled ‘Collaborative Measures in Risk Management’, which served as a venue to enhance their mutual understanding on risk management system and to discuss best practices of risk management in sectors including natural resources development and industrial plant construction.

Chairman Eun of Korea Eximbank remarked, “Both institutions agree on the importance of cooperation to reinforce our negotiating power over government agencies of project host countries.”

This meeting had been proposed by Governor Akira Kondoh during his visit to Korea in August last year, and the two banks have since decided to regularize consultation meetings from this year and onwards.

For reference, JBIC is an Export Credit Agency of Japan established in 1999, through the merger of the Export-Import Bank of Japan and the Overseas Economic Cooperation Fund. Korea Eximbank has co-financed 23 projects (total project cost of USD 147 billion) with JBIC so far.