AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The financial support has a total value of KRW 1 trillion (ca. USD 865.84 million) in ship financing for Korean exporters of ships and offshore plants. Ship financing is target to support the shipbuilding and marine transport sector
In this context, the further Bank elaborated: "Marine transport firms are facing reduced marine transport volumes as a result of the global economic downturn. As a result, shipbuilding orders have fallen and the shipbuilding industry is heading towards a recession. In these adverse circumstancess, we will do our best to help Korea’s marine transport and shipbuilding industry sail mightily across the five oceans."
The Eximbank of Korea operates with various financial instruments, including Direct Loans, Ship Bond Guarantees and Comprehensive Guarantees, to promote its maritime sector. More information on the ship financing 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.
⚑ Please report this page in case you detect an inaccuracy in its content.