On February 17 the Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yong Hwan Kim) announced that an MOU, which aims to support SME venture companies expand into overseas markets, was concluded with Korea Venture Business Association (President Cheol Joo Hwan) and KOINKE* (CEO Byung Cheol Hong) at bank headquarters.

* The Korean International Network of Korean Enterprises (KOINKE) is the Korean corporation of INKE. Jointly formed by Korea Venture Business Association and Korean-American Business Association, INKE aims to facilitate Korean venture businesses expand into overseas markets through relationships and networks among Korean venture businessmen working abroad.

By identifying export venture companies with great potential, providing venture companies with international marketing and export support, and promoting foreign direct investments of venture companies in line with this MOU, Korea Eximbank and the other two contracting parties established a platform for assisting domestic venture corporations develop into Korean Hidden Champions.

* Korean Hidden Champions are domestic companies identified as having potential to become global leaders with USD 100 million in exports and sustainable international market dominance.

President and Chairman of Korea Eximbank Yong Hwan Kim stated, "The synergy created under this MOU by combining the knowhow of the Venture Business Association in operating venture businesses, the vast network of KOINKE, and expertise in international finance of Korea Eximbank, will allow us to provide small and middle sized venture companies with tailored financial and non-financial services needed for advancing into overseas markets. Korea Eximbank will lead efforts to enter an era of USD 1 trillion in trade volume by fostering Korea Hidden Champions."