□ On July 14, Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) announced that the Bank reshuffled personnel and underwent reorganization in order to increase productivity and transform as an innovative ECA. As part of its efforts, the bank established a two-way HR system and strengthened its IB functions such as financial advisory services.

□ Korea Eximbank changed its existing HR system to the two-way system and significantly increased the authority of executive directors to raise transparency and fairness in human resource management.

○ Before the personnel shift, the bank provided employees with their individual evaluations to facilitate communication between the Human Resources Department and employees. In doing so, the individual performance of employees was better reflected in the personnel shift. In addition, by giving executive directors more control in regards to the selection of organization administrators, the bank was able to strengthen the foundation for responsible management.

□ Moreover, in line with the current trend of “financing before contract awards” rather than “order placement before financing,” Korea Eximbank reorganized its Planning & Administration Group into the Planning & Coordination Group and established the Business Coordination Department and Financial Advisory Office as lower branches.

○ The Business Coordination Department will oversee coordination and arrangement of all projects and networks of Korea Eximbank while the Financial Advisory Office provides Korean companies with customized IB financial services encompassing project identification support, financial advisory services, arrangements, and M&As.

□ In addition, in response to increasing demand for and importance of ODA, Korea Eximbank divided the Economic Development Cooperation Fund Group into the EDCF Planning Group and the EDCF Operations Group, effectively reorganizing the Bank under an eight group system, to strengthen project implementation and management efficiencies as well as reduce business processing times.

□ Furthermore, the bank simplified the Deputy President and Executive Director System into a single Deputy President System. At the same time, SME Support Department Director General Young-hwan Sul, Credit Policy Department Director General Il-dong Park, and Natural Resources Finance Department Director General Sang-wan Byun were promoted to the position of Executive Director.

○ The newly appointed Executive Director of the Export Credit Group Young-hwan Sul served previously as the Director General of the SME Support Department, the Risk Management Department, and the Ship Finance Department. A specialist in SMEs, Sul led the Korean Hidden Champion Project from the early stages and contributed to its successful establishment.

○ Executive Director of New Growth Industry Credit Group Il-dong Park served previously as the Director General of the Credit Policy Department, Plant Finance Department, and Human Resources Department. Specializing in overseas project finance, Park contributed to expanding the role of Korea Eximbank in the PF market after the global financial crisis..

○ Executive Director of the EDCF Operations Group Sang-wan Byun served previously as the Director General of the Natural Resources Finance Department, Interbank Export Finance Department, and Secretary Office. As a specialist in natural resources financing and planning, Byun contributed to the establishment of the bank’s support system for public enterprises in the resource sector to expand into overseas markets.