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: 17 Apr 2009 | Removal date: open ended
Still in force

Trade finance

On 17 April 2009 the Export-Import Bank of Korea announced the signing of a Cooperation Agreement with the United States Eximbank. The agreement concerned "collaborative aid in green industries and new and renewable energy."
 
The relevant press release states the scale and purpose of this initiative, which is not confined to influencing trade between the signatories:
"According to the agreement, Korea Eximbank will receive a $500 million credit line from US Eximbank for the purchase of new and renewable energy related equipment from the US. Additionally, Korea Eximbank and its US counterpart will jointly provide assistance to support green industries in other countries. 

"The agreement provides Korea Eximbank with funds from US Eximbank for fifteen years at the lowest interest rate level allowed by the Organization for Economic Cooperation and Development (OECD) Export Credit Guidelines. The agreement thus ensures long-term availability of foreign currency at low interest rates. 

"The agreement is expected to greatly contribute towards the development of green industries through the provision of funds at rates that are considerably lower than market interest rates."

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

421 Structural metal products & parts
7308 Structures (excluding prefabricated buildings of heading 94.06) and parts of structures (for example, bridges and bridgesections, lockgates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors,
730810 Bridges and bridgesections
730820 Towers and lattice masts
730830 Doors, windows and their frames and thresholds for doors
730840 Equipment for scaffolding, shuttering, propping or pitpropping
730890 Other
422 Tanks, reservoirs & containers of iron, steel or aluminium
7309 Reservoirs, tanks, vats and similar containers for any material (other than compressed or liquefied gas), of iron or steel, of a capacity exceeding 300 l, whether or not lined or heatinsulated, but not fitted with mechanical or thermal equipment.
730900 Reservoirs, tanks, vats and similar containers for any material (other than compressed or liquefied gas), of iron or steel, of a capacity exceeding 300 l, whether or not lined or heatinsulated, but not fitted with mechanical or thermal equipment.
7611 Aluminium reservoirs, tanks, vats and similar containers, for any material (other than compressed or liquefied gas), of a capacity exceeding 300 l, whether or not lined or heatinsulated, but not fitted with mechanical or thermal equipment.
761100 Aluminium reservoirs, tanks, vats and similar containers, for any material (other than compressed or liquefied gas), of a capacity exceeding 300 l, whether or not lined or heatinsulated, but not fitted with mechanical or thermal equipment.
431 Engines & turbines & parts
8406 Steam turbines and other vapour turbines.
840610 Turbines for marine propulsion
840681 Of an output exceeding 40 MW
840682 Of an output not exceeding 40 MW
840690 Parts
8410 Hydraulic turbines, water wheels, and regulators therefor.
841011 Of a power not exceeding 1,000 kW
841013 Of a power exceeding 10,000 kW
841090 Parts, including regulators
8411 Turbojets, turbopropellers and other gas turbines.
841111 Of a thrust not exceeding 25 kN
841112 Of a thrust exceeding 25 kN
841121 Of a power not exceeding 1,100 kW
841122 Of a power exceeding 1,100 kW
841181 Of a power not exceeding 5,000 kW
841182 Of a power exceeding 5,000 kW
841191 Of turbojets or turbopropellers
841199 Other
8412 Other engines and motors.
841210 Reaction engines other than turbojets
432 Pumps, compressors, hydraulic & pneumatic power engines; parts
8412 Other engines and motors.
841221 Linear acting (cylinders)
841229 Other
841231 Linear acting (cylinders)
841239 Other
841280 Other
841290 Parts
433 Bearings, gears, gearing & driving elements; parts
8483 Transmission shafts (including cam shafts and crank shafts) and cranks; bearing housings and plain shaft bearings; gears and gearing; ball or roller screws; gear boxes and other speed changers, including torque converters; flywheels and pulleys, including
848310 Transmission shafts (including cam shafts and crank shafts) and cranks
848320 Bearing housings, incorporating ball or roller bearings
848330 Bearing housings, not incorporating ball or roller bearings; plain shaft bearings
848340 Gears and gearing, other than toothed wheels, chain sprockets and other transmission elements presented separately; ball or roller screws; gear boxes and other speed changers, including torque converters
848350 Flywheels and pulleys, including pulley blocks
848360 Clutches and shaft couplings (including universal joints)
848390 Toothed wheels, chain sprockets and other transmission elements presented separately; parts
439 Other general-purpose machinery & parts
8405 Producer gas or water gas generators, with or without their purifiers; acetylene gas generators and similar water process gas generators, with or without their purifiers.
840510 Producer gas or water gas generators, with or without their purifiers; acetylene gas generators and similar water process gas generators, with or without their purifiers
840590 Parts
8418 Refrigerators, freezers and other refrigerating or freezing equipment, electric or other; heat pumps other than air conditioning machines of heading 84.15.
841850 Other furniture (chests, cabinets, display counters, showcases and the like) for storage and display, incorporating refrigerating or freezing equipment
841861 Heat pumps other than air conditioning machines of heading 84.15
841869 Other
841891 Furniture designed to receive refrigerating or freezing equipment
841899 Other
8419 Machinery, plant or laboratory equipment, whether or not electrically heated (excluding furnaces, ovens and other equipment of heading 85.14), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting
841940 Distilling or rectifying plant
841950 Heat exchange units
841960 Machinery for liquefying air or other gases
841989 Other
841990 Parts
445 Machinery for food, beverage & tobacco processing; parts
8419 Machinery, plant or laboratory equipment, whether or not electrically heated (excluding furnaces, ovens and other equipment of heading 85.14), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting
841931 For agricultural products
841981 For making hot drinks or for cooking or heating food
448 Domestic appliances & parts
8418 Refrigerators, freezers and other refrigerating or freezing equipment, electric or other; heat pumps other than air conditioning machines of heading 84.15.
841810 Combined refrigeratorfreezers, fitted with separate external doors
841821 Compressiontype
841829 Other
841830 Freezers of the chest type, not exceeding 800 l capacity
841840 Freezers of the upright type, not exceeding 900 l capacity
8419 Machinery, plant or laboratory equipment, whether or not electrically heated (excluding furnaces, ovens and other equipment of heading 85.14), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting
841911 Instantaneous gas water heaters
841919 Other
449 Other special-purpose machinery & parts
8419 Machinery, plant or laboratory equipment, whether or not electrically heated (excluding furnaces, ovens and other equipment of heading 85.14), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting
841932 For wood, paper pulp, paper or paperboard
841939 Other
461 Electric motors, generators & transformers; parts
8501 Electric motors and generators (excluding generating sets).
850110 Motors of an output not exceeding 37.5 W
850120 Universal AC/DC motors of an output exceeding 37.5 W
850131 Of an output not exceeding 750 W
850132 Of an output exceeding 750 W but not exceeding 75 kW
850133 Of an output exceeding 75 kW but not exceeding 375 kW
850134 Of an output exceeding 375 kW
850140 Other AC motors, singlephase
850151 Of an output not exceeding 750 W
850152 Of an output exceeding 750 W but not exceeding 75 kW
850153 Of an output exceeding 75 kW
850161 Of an output not exceeding 75 kVA
850162 Of an output exceeding 75 kVA but not exceeding 375 kVA
850163 Of an output exceeding 375 kVA but not exceeding 750 kVA
850164 Of an output exceeding 750 kVA
8502 Electric generating sets and rotary converters.
850211 Of an output not exceeding 75 kVA
850212 Of an output exceeding 75 kVA but not exceeding 375 kVA
850213 Of an output exceeding 375 kVA
850220 Generating sets with sparkignition internal combustion piston engines
850231 Windpowered
850239 Other
850240 Electric rotary converters
462 Electricity distribution & control apparatus; parts
8537 Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 85.35 or 85.36, for electric control or the distribution of electricity, including those incorporating instruments or apparatus of Chapter 90, and nu
853710 For a voltage not exceeding 1,000 V
853720 For a voltage exceeding 1,000 V
471 Electronic valves & tubes; electronic components; parts
8541 Diodes, transistors and similar semiconductor devices; photosensitive semiconductor devices, including photovoltaic cells whether or not assembled in modules or made up into panels; light emitting diodes; mounted piezoelectric crystals.
854110 Diodes, other than photosensitive or light emitting diodes
854121 With a dissipation rate of less than 1 W
854129 Other
854130 Thyristors, diacs and triacs, other than photosensitive devices
854140 Photosensitive semiconductor devices, including photovoltaic cells whether or not assembled in modules or made up into panels; light emitting diodes
854150 Other semiconductor devices
854160 Mounted piezoelectric crystals
854190 Parts
481 Medical & surgical equipment & orthopaedic appliances
8419 Machinery, plant or laboratory equipment, whether or not electrically heated (excluding furnaces, ovens and other equipment of heading 85.14), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting
841920 Medical, surgical or laboratory sterilisers
483 Optical instruments & photographic equipment; parts thereof
9001 Optical fibres and optical fibre bundles; optical fibre cables other than those of heading 85.44; sheets and plates of polarising material; lenses (including contact lenses), prisms, mirrors and other optical elements, of any material, unmounted, other th
900110 Optical fibres, optical fibre bundles and cables
900120 Sheets and plates of polarising material
900130 Contact lenses
900140 Spectacle lenses of glass
900150 Spectacle lenses of other materials
900190 Other
9002 Lenses, prisms, mirrors and other optical elements, of any material, mounted, being parts of or fittings for instruments or apparatus, other than such elements of glass not optically worked.
900211 For cameras, projectors or photographic enlargers or reducers
900219 Other
900220 Filters
900290 Other

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