IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 28 Oct 2015 | Removal date: open ended
Still in force

Trade finance

On 28 October 2015, the Export-Import Bank (Eximbank) of Korea signed a USD 12.8 million EDCF loan agreement with the Government of Jordan. The loan funds the Jordan Research-and-Training Reactor Construction Project. The project is expected to promote Korean companies winning tenders for this project. In this context the Bank stated: 'With the support by the EDCF for this project, it is expected that the excellence of Korea's nuclear reactors will be demonstrated and it will, in turn, positively affect Korean companies to win the bids for subsequent contracts to this nuclear reactor project.'
 
The Economic Development Cooperation Fund (EDCF) loans
The EDCF provides low-interest and long-term loans to developing countries for projects seeking to promote industrialization and economic stability. In some cases Korean companies are involved in such projects directly or through exports. More information on the Fund can be found on the official website or the "Guide to the Import-Export Bank of Korea" publication.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
 
According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

423 Steam generators, (except central heating boilers) & parts
8401 Nuclear reactors; fuel elements (cartridges), nonirradiated, for nuclear reactors; machinery and apparatus for isotopic separation.
840110 Nuclear reactors
840140 Parts of nuclear reactors

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