□ On July 26, Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) announced that the Bank provided CJ CGV (www.cgv.co.kr, CEO Joo-Hyung Kim) with financing of USD 58 million for its acquisition of Megastar Media, the largest multiplex cinema chain and film distributor in Vietnam.

○ This financing, Korea Eximbank’s largest financing for cultural contents, will be used towards the acquisition of Megastar Media.

□ With expertise in multiplex cinema operation, CJ CGV had sought to expand into Southeast Asian markets. After successful expansion into China, CJ CGV targeted Vietnam’s market due to the relatively high proportion of young people in its population and high rate of economic growth.

○ Financed by Korea Eximbank, CJ CGV was able to successfully acquire Megastar Media for greater Korean movie screenings by the end of this year. CJ CGV anticipates the Korean Wave to hit Vietnam soon thereafter.

□ According to Korea Eximbank, “This case represents a successful integration of the demand for expansion into overseas markets by CJ CGV, Korea’s largest multiplex cinema chain, and the expertise of Korea Eximbank as a specialized agency in overseas transactions. Korea Eximbank will provide all the support possible for establishment of a strong foundation for the cultural contents industry in order to tie the Korean Wave in Southeast Asia to economic benefits.”

□ Korea Eximbank was the first financial institution to support the cultural contents industry, which has a high rate of job creation, with a dedicated support team and KRW 206.1 billion in financing since 2009 to firmly secure the industry as a new growth engine.

○ Moreover, Korea Eximbank adopted the Facility for Completion of Cultural Contents Program with related organizations such as the Ministry of Culture, Sports and Tourism and the Korea Technology Finance Corporation in August 2009 to provide KRW 20.3 billion for 21 projects to contents providers which normally face difficulties in securing financing due to their low credit ratings.