IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: No inception date

Trade finance

The additional funds made available for trade finance have a total value of USD 400 million. They are intended for Korean shipping companies' overseas business. The Korean Eximbank intends to allocate more than half to Korean SMEs which are active in the shipbuilding industry. 

In this context, the further Bank elaborated: "For companies with sound profit structures (for example, securing profitability by concluding charter contracts before ship delivery) the Bank will increase the debt to ship price ratio from 70% to 80%. In addition, the Bank will consider temporarily suspending Loan to Value (LTV) ratio requirements if the recession in the marine transport industry persists and drags down ship prices. Moreover, Korea Eximbank will actively strive to stimulate Korean ship financing by pursuing co-financing and forming shipping funds with commercial banks."

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

393 Metal wastes or scraps
8908 Vessels and other floating structures for breaking up.
890800 Vessels and other floating structures for breaking up.
493 Ships
8901 Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods.
890110 Cruise ships, excursion boats and similar vessels principally designed for the transport of persons; ferryboats of all kinds
890120 Tankers
890130 Refrigerated vessels, other than those of subheading 8901.20
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods
8904 Tugs and pusher craft.
890400 Tugs and pusher craft.
8905 Lightvessels, firefloats, dredgers, floating cranes and other vessels the navigability of which is subsidiary to their main function; floating docks; floating or submersible drilling or production platforms.
890510 Dredgers
890520 Floating or submersible drilling or production platforms
890590 Other
494 Pleasure & sporting boats
8903 Yachts and other vessels for pleasure or sports; rowing boats and canoes.
890310 Inflatable

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