The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman EUN, Sung-soo, “Korea Eximbank”) announced on February 20 that it hosted a workshop titled “Workshop for Promoting Overseas Business Development and Support” at the headquarters of Korea Eximbank in Seoul.
Co-hosted by Korea Eximbank, Korea Overseas Infrastructure & Urban Development Corporation (KIND), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA), the workshop was aimed at finding ways to invigorate Korean companies’ pioneering new markets and promote their involvement in high value-added investment-development projects overseas.
Approximately 70 attendees from major domestic construction companies, trading companies, public infrastructure enterprises, etc. participated in the event.
The four institutions shared their key strategies and discussed sectoral trends and issues, cooperation plans and case studies of how they supported projects in their key strategic countries.
In the first session, Korea Eximbank Senior Research Officer Cho Yeon-Bum presented strategies to develop the bank’s 10 key emerging markets and plans to support investment-development type projects in those markets through its business development activities and financial advisory & arranging services.
KIND Head of Project Management Lee Gwang-bok overviewed its roles and business development strategies implemented through supporting F/S activities and making equity investment.
IFC and MIGA introduced their Private Sector Window program, which can be used to mitigate risks in entering into infrastructure project markets of high risk countries, and various guarantee programs.
In the second session, the four organizations shared sectoral trends and issues in Core Strategic Countries of Korea Eximbank including those countries listed in the Korean government’s New Southern Policy such as Indonesia, Vietnam, India, Bangladesh, Myanmar, Uzbekistan, and Nepal.
During the session, participants actively discussed how they could enter the new markets and cooperate with each other utilizing various measures of the four organizations such as consultancy service, F/S, loans and guarantees, and equity investment.
A Korea Eximbank official remarked, “As the global competition has become much more intense recently, it is important for Korean companies to diversify their target markets and develop higher value-added businesses.”
He added, “Korea Eximbank is planning to support Korean companies to preempt high value-added projects in emerging markets by developing projects with promising prospects and distributing risks through close cooperation with major international financial institutions including KIND, IFC and MIGA from the very first stage of each project.”