ANNOUNCEMENT 16 Jan 2014

In January 2014, the government of Republic of Korea announced a change in financial export support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



The Export-Import Bank of Korea press release: Korea Eximbank Expands Access of Korean Businesses to India
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=7&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16955

The Export-Import Bank of Korea press release of 13 January 2016: Korea Eximbank and SBI Sign Agreement to Increase Credit Line to USD 1 Billion: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=1&menuid=002001007&pagesize=10&boardtypeid=284&boardid=52862

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: 16 Jan 2014 | Removal date: open ended
Still in force

Trade finance

On 16 January 2014 the Export-Import Bank of Korea (Eximbank) signed an Interbank Export Loan Agreement with the State Bank of India (SBI). The agreement extends USD 200 million to finance Indian companies importing Korean goods or services through the SBI.
In this context the Bank stated: 'This Interbank Export Loan Agreement will give Korean companies greatly expanded access to India's markets and government-sponsored projects. We will make the utmost use of it to provide full and effective financing to Korean companies looking to do business in this country.'

On 13 January 2016 the Export-Import Bank (Eximbank) of Korea signed an agreement with SBI to increase the above credit line to USD 1 billion.
 
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

 
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AFFECTED PRODUCTS

 
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