□ Korea Eximbank concluded MOUs with Mitsui & Co. Ltd. and Mitsubishi Corporation on September 27 and with Marubeni Corporation on 28 to assist Korean companies win overseas project contracts in Tokyo, Japan. The Japanese general trading companies have strength in the electric power and new & renewable energy sectors.

○ The MOUs were concluded for greater cooperation among Korea Eximbank and major Japanese general trading companies to increase investment and project participation opportunities for Korean companies.

□ Korea Eximbank plans to jointly identify new projects in the electric power, new & renewable energy, water treatment, and oil & gas sectors as well as to actively cooperate with JBIC for effective financing of projects participated by both Korean and Japanese companies.

○ The agreement is anticipated to couple the expertise of Japanese general trading companies in overseas plant markets and the strength of Korean companies in EPC* competitiveness. Moreover, it will maximize the synergy of co-financing between Korean and Japanese ECAs in overseas plant markets under the current trend of financing arrangement before contracts.

* EPC (Engineering, Procurement, Construction): type of construction contract covering plant design and construction as well as supply of equipment.

□ An official from Korea Eximbannk stated, “We concluded the MOUs swiftly considering that many Korean companies viewed joint participation with leading foreign companies is necessary in order to win large-scale plant contracts, during the signing of an MOU facilitating overseas expansion with 13 domestic companies on August 30.”

○ And he added, “Korea Eximbank will continue to establish global cooperation systems through MOUs with foreign project developers in the US and Europe after concluding MOUs with Japanese general trading companies for greater overseas expansion by Korean companies.”

□ Since 2000, Korea Eximbank provided USD 2.53 billion in financing for seven projects in which Korean companies and Japanese general trading companies jointly participated and among them, three Japanese general trading companies participated in four projects*.

* Indonesia Cirebon Coal-fired Power Project, Peru LNG Terminal Project, Philippines Illijan CCGT Power Project, and Mexico Manzanillo LNG Terminal Project