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: 23 Jun 2014 | Removal date: open ended
Still in force

Financial assistance in foreign market

On 23 June 2014 the Export-Import Bank (Eximbank) of Korea granted USD 380 million (a USD 210 million loan and a USD 170 million guarantee) in project financing to the Chile Kelar Gas-Fired Combined Cycle Power Plant Project. The financing falls under the Eximbank's Investment-development project type.
 
Funding will support the participation of Korean companies. As such Korea Southern Power, Samsung C&T and Samsung Engineering will be involved in the equity investment, the construction or the operations of the plant. The plant is scheduled to be completed in 2016 and estimated to cost approximately USD 600 million.
 
In this context the Bank stated 'Korea Eximbank is credited to have decisively assisted the entry of Korean firms into the Latin American power market by providing competitive financing and information on how to win contracts such as power purchase agreements.
 
Investment-development type projects
The Eximbank of Korea supports "investment-development type projects" with direct loans, guarantees, and/or equity investment. Korean companies must participate before such projects are eligible for financial support by the Bank. More information on the Bank's financial instruments 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.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

461 Electric motors, generators & transformers; parts
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
8504 Electrical transformers, static converters (for example, rectifiers) and inductors.
850410 Ballasts for discharge lamps or tubes
850421 Having a power handling capacity not exceeding 650 kVA
850422 Having a power handling capacity exceeding 650 kVA but not exceeding 10,000 kVA
850423 Having a power handling capacity exceeding 10,000 kVA
850431 Having a power handling capacity not exceeding 1 kVA
850432 Having a power handling capacity exceeding 1 kVA but not exceeding 16 kVA
850433 Having a power handling capacity exceeding 16 kVA but not exceeding 500 kVA
850434 Having a power handling capacity exceeding 500 kVA
850440 Static converters
850450 Other inductors
850490 Parts

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