ANNOUNCEMENT 27 Mar 2015

In March 2015, the government of Republic of Korea announced a change in financial export support.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



The Export-Import Bank of Korea press release: Agreements with CABEI and IDB Establish Financial Bridge into Latin America
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?menuid=002001007&pagesize=10&boardtypeid=284&boardid=17013

Guide to the Export-Import Bank of Korean
Available at: https://www.koreaexim.go.kr/site/inc/file/fileDownload?dirname=/doc/002&...
ExImBank official website: https://www.koreaexim.go.kr/site/main/index002


Inception date: No inception date

Trade finance

On 27 March 2015 the Export-Import Bank (Eximbank) of Korea signed an Interbank Export Loan guarantee agreement with Inter-American Development Bank (IDB). This agreement will provide credit lines for IDB-guaranteed export loans to 99 Latin American banks from a total of 21 countries.
In this context the Korean Eximbank's Chairman stated: 'The vastness and diversity of the Latin American market have made it quite challenging for Korean companies to penetrate. But now that the agreement with IDB has made it possible for us to extend support to every part of the continent, we will redouble our financial backing to Korean exporters bound for Latin America."
 
Interbank Export Loan
Is ExImBank of Korea extends credit to foreign banks for the purpose of financing companies' purchases of Korean goods and services through loans. 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 SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A