ANNOUNCEMENT 04 Dec 2013

In December 2013, 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 Signs USD 50 Million Interbank Export Loan Agreement with Jordan's HBTF
Available at: https://www.koreaexim.go.kr/site/program/board/basicboard/view?currentpage=8&menuid=002001007&pagesize=10&boardtypeid=284&boardid=16940

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: 04 Dec 2013 | Removal date: open ended

Trade finance

On 4 December 2013 the Export-Import Bank (Eximbank) of Korea signed a USD 50 million Interbank Export Loan Agreement with Jordanian Housing Bank for Trade and Finance (HBTF). The agreement will facilitate the financing of companies in the Levant region when importing Korean goods.

In this context the Bank stated: '... the agreement signed today opens up the possibility for us to exploit the financial network of a large Jordanian commercial bank to support Korean business activities in this part of the world. This agreement, which establishes our first credit line with a bank in this region, will serve as a financial bridge for Korean companies targeting the Levant market.'
 
Interbank Export Loan
The 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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