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The Export-Import Bank of Korea will lead the Korean economy’s another leap forward!
Welcome to the Export-Import Bank of Korea (KEXIM).
I am Yoon Hee-Sung, Chairman and President of KEXIM.
Since founded in 1976, KEXIM has been dedicated to supporting Korea’s foreign trade, overseas investment, and natural resources development abroad.
In the early years upon establishment, KEXIM opened a new horizon in the exports of heavy and chemical goods, and has since been playing an instrumental role in assisting Korea’s key industries such as shipbuilding and overseas construction in realizing the world’s best competitiveness. And in times of crisis, we served as a reliable financial safety net for Korea’s financial market.
Last year, we contributed to Korea’s export growth to a record peak of 683.9 billion US dollars by providing 76.6 trillion won in loans and guarantees, far exceeding the original target of 70 trillion won.
On the EDCF side, we have strengthened economic cooperation with developing countries by committing an all-time high of 3.1 trillion won in assistance.
Although the global economy remains beset with difficulties this year such as interest rate hikes, prolonged geopolitical tensions and supply chain disruptions, KEXIM will endeavor to underpin the robust growth of the Korean economy by committing to its bold, ambitious goals focusing on the following four core business targets in 2023:
To this end, we will provide 16 trillion won to innovative growth industries to boost export momentum for future export engines and also commit 31 trillion won for SMEs to foster their global competitiveness.
In addition, we will help Korean firms achieve an advantageous position in overseas project markets by diversifying our financing strategies including providing proactive financial support to overseas clients of Korean companies.
By expanding the “Global Supply Chain Response Program,” we will contribute to strengthening national economic security such as ensuring a stable supply of raw materials, achieving self-reliance of semiconductor materials, parts and equipment, and rebuilding global logistics infrastructure.
We will actively support Korean companies’ overseas business by pioneering new areas of financial support through closely cooperating with commercial banks and international financial institutions, offering local currency finance, and utilizing online platforms we have built.
We will set an example as a trusted policy-based financial institution by expanding ESG finance and advancing ethics and human rights in our business management in preparation for the transition to a carbon-neutral economy.
We appreciate your interest and encouragement as we continue to challenge ourselves embracing new ideas and innovation and lead the way for the Korean economy to take another leap forward.