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: 16 Jul 2010 | Removal date: open ended
Still in force

Trade finance

On 16 July 2010 the Export-Bank of Korea and the Sumitomo Mitsui Banking Corporation (SMBC) signed an accord to provide finance for large overseas projects such as "ship finance, export finance, foreign investments; development of natural resources; and sharing of information regarding projects."
 
One purpose of this scheme was revealed by the following statement by an official at the Export-Import Bank, quoted directly in the press release as follows:
 
A representative of Korea Eximbank stated, "Korean and Japanese companies are increasingly forming consortiums in the plant market. Co-financing by Korea Eximbank and SMBC, facilitated by this agreement, will increase competitiveness of Korean-Japanese consortiums to win contracts." ' 

AFFECTED COUNTRIES

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