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Korea Exim News

Korea Eximbank Holds Korea-US ECA Financing Joint Roundtable

Date 2024.02.19 View 508
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□ The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yoon Hee-sung, “Korea Eximbank“) announced on January 9 that it co-hosted the Korea-US ECA Financing Joint Roundtable jointly with Korea Trade Insurance Corporation (K-sure), the Export-Import Bank of the United States (US EXIM), and Shin&Kim, a Seoul-based law firm, at the headquarters of Shin&Kim.

 

 ㅇ A total of 28 entities attended the meeting, including 14 Korean exporters aiming to enter the U.S. markets in sectors such as electric vehicles, batteries, core mineral supply chains and carbon-neutral energy, along with 10 financial institutions and Shin&Kim.

 

 

□ During the event, the hosting institutions presented their financing and investment programs and conducted consultation sessions to assist the participating entities in entering the U.S. markets.

 ㅇ Their presentations covered △financing programs aimed at supporting exporters’ entry into the U.S. markets by Korea Eximbank, US EXIM, and K-sure and △the U.S. Inflation Reduction Act and clean energy-related government assistance by Shin&Kim.

 

 ㅇ They provided customized consultations through one-on-one business meetings regarding projects currently being pursued by Korean firms.

 

 

□ The roundtable event served as a follow-up to the ‘MOU signed in December of the previous year between Korea Eximbank and US EXIM. The MOU outlines bilateral cooperation aimed at stabilizing supply chains in electric vehicle and decarbonized energy projects.

 

 ㅇ Through the MOU, the two ECAs agreed to expand co-financing opportunities and share related project information in the U.S. 

 

 

□ Korea Eximbank and US EXIM intend to enhance joint financing assistance for projects invested by Korean companies in North America.

 

 

□ US EXIM First Vice President and Vice Chair Judith D. Pryor stated, “Korea Eximbank and K-sure are vital partners to our bank in diversifying supply chains and addressing the climate crisis.”

 

 ㅇ She added, “US EXIM has actively pursued project opportunities through strategic partnerships with Korean firms, and we are committed to achieving successful outcomes by collaborating closely with Korea Eximbank, K-sure, and Korean companies.”

 

 

□ Korea Eximbank Vice President Kang Jungsoo remarked at the meeting, “As Export Credit Agencies (ECA) of Korea and the U.S. are joining efforts with the global supply chain being realigned, I expect that we will be able to produce tangible results in reinforcing cooperation in EV supply chains and decarbonized energy sectors between the two countries.”