IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 08 Aug 2012 | Removal date: open ended
Still in force

Trade finance

On 8 August 2012 the Export-Import Bank (Eximbank) of Korea announced increasing the Russian state-owned bank Sberbank's. Interbank Export Loan ceiling by USD 500 million.
The Russian banks' credit line will increase from USD 200 million to USD 700 million. The credit line finances Korean companies or Russian firms purchasing Korean products.

In this context the ExImBank of Korea stated: 'The refinancing agreement will not set up a separate credit line, but will allow Russian importers of Korean products to obtain loans more quickly. Thus, the agreement is anticipated to promote greater exports of Korean automotives and machineries to Russia.'

This credit line agreement has since 2004 been extended several times. The ExImBank of Korea again increased Sberbank's. Interbank Export Loan ceiling on 14 November 2013 with USD 800 million to a total sum of USD 1.5 billion.
 
Untied Interbank Loans
The ExImBank of Korea extends credit to foreign banks for the purpose of financing local Korean-owned companies (holding at least 10% capital stock or equity shares) or foreign companies purchasing Korean goods or services. 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

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