Republic of Korea: Enhanced trade finance scheme made available to large scale plant projects
On 16 July 2010 the Export-Bank of Korea and the Sumitomo Mitsui Banking Corporation (SMBC) signed an accord to provide finance for large overseas projects such as "ship finance, export finance, foreign investments; development of natural resources; and sharing of information regarding projects."
One purpose of this scheme was revealed by the following statement by an official at the Export-Import Bank, quoted directly in the press release as follows:
A representative of Korea Eximbank stated, "Korean and Japanese companies are increasingly forming consortiums in the plant market. Co-financing by Korea Eximbank and SMBC, facilitated by this agreement, will increase competitiveness of Korean-Japanese consortiums to win contracts." '
Any Evidence-Based Deliberation:
|Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations?|
|Is there any evidence that alternatives to the proposed measure were considered?|
|Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government?|
|Was such evidence identified?|
|Is such evidence publicly available?|
|Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives?|
|Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken?|
|Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory?|
|Did the government state its intention to review the measure within one year of implementation?|
Date of inception: 16 Jul 2010
GTA Evaluation: Red
"Korea Eximbank and SMBC Sign Cooperation Agreement to Co-finance Large-scale Plant Projects," Available at http://www.koreaexim.go.kr/en2/01_exim/04_bank/01_view.jsp?nCP=1&nRegNo=...