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: 29 Dec 2010 | Removal date: open ended
Still in force

Trade finance

The Korean Eximbank announced providing Korean Hyundai Corporation with a USD 296 million loan for the company's "High Speed Electric Rail Cars Export to Ukraine" project. Ukraine has initiated a project which aims to introduce 1500 high-speed rail cars over the coming ten years.

In this context, the Korean Eximbank stated: "Korea Eximbank has cooperated with Hyundai Corporation since the early stage of the project. A key factor in the success of winning the contract was Chairman Kim's confirmation of intent for active support of the project during his meeting with Ukraine's Vice Prime Minister Borys Kolesnikov on November 2." the Bank further highlighted that: "Hyundai Corp, the exporter, and Hyundai Rotem, the manufacturer, won the contract in an aggressive competition with top-tier rail car manufacturers such as Bombardier (Canada) and Siemens (Germany)."

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

495 Railway & tramway locomotives & rolling stock; parts
8603 Selfpropelled railway or tramway coaches, vans and trucks, other than those of heading 86.04.
860310 Powered from an external source of electricity

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