On February 22, Chairman Yong Hwan Kim, who has emphasized Korea Eximbank's active assistance in raising the global competitiveness of Korean export industries since his inauguration, visited Hyundai Heavy Industries and Hyundai Mipo Dockyard in Ulsan, the hub of the shipbuilding industry, to listen to those working within the industry about maintaining Korea's leading position in shipbuilding.

During his visit, the Chairman reaffirmed the need to increase Korea's competitiveness in shipbuilding, particularly for high value-added ships such as super-sized container ships, oil drill ships, and FPSO (Floating Production, Storage, & Offloading Unit), as the shipbuilding industry recovers from the recent global crisis. Given that China is closely following Korea in this sector, the Chairman emphasized that Korea Eximbank will provide all the possible support to help raise national competitiveness in the global shipbuilding market.

Chairman Kim also stated, “In response to the trend of the ship market, where ship owners require financing before orders,* Korea Eximbank will collaborate with domestic shipbuilders so that financing may be secured from the initial consultation process.

* Orders awarded to countries or companies which have arranged financing.

In line with the Chairman's commitment to field-focused management, he has strongly recommended that senior management also regularly visit companies for early detection of problems and needs as well as development of solutions.

※ 2011 Korea Eximbank Policy Directions for Ship Finance
？ Target for assistance in 2011: KRW 20 trillion (loan: KRW 6.1 trillion, insurance: KRW 13.9 trillion)
？ Strengthened financing assistance for shipping companies and ship owners in and out of Korea.
？ Assist domestic shipbuilders secure contracts by providing letters of financial support, etc. from the bidding stage.
？ Continued assistance to shipbuilders for manufacturing costs as well as advance payment bonds.