Export–Import Bank of Korea

Export–Import Bank of Korea
Company typePublic
BMV: KEXIM
IndustryBanking
Financial services
Founded1976; 49 years ago (1976)[1]
HeadquartersSeoul, South Korea
Key people
Hee-seong Yoon , CEO
ProductsInvestment Banking
Commercial Banking
WebsiteOfficial Website

The Export–Import Bank of Korea, also commonly known as the Korea Eximbank (KEXIM), is the official export credit agency of South Korea.[1]

Overview

The bank was first established in 1976.[1] Its primary purpose is to support South Korea's export-led economy by providing loans, financing mega projects and thereby facilitating economic cooperation with other countries.[1]

Government funds

The bank manages the following government funds:

  • Economic Development Cooperation Fund (EDCF): The EDCF evaluates and implements aid projects in developing countries.[2]
  • Inter-Korean Cooperation Fund (IKCF): The IKCF oversees an economic cooperation program with North Korea and serves as a clearing settlement bank with the Foreign Trade Bank of North Korea.[2]

Aid programs

On January 6, 2013, the bank announced its decision to provide loans and credit guarantees worth US$917 million to entertainment and food firms over the next three years to promote the spread of the Korean Wave in foreign countries. A spokesman representing the bank told reporters that K-pop, Korean dramas, as well as traditional Korean cuisine have huge growth potential, and that exporters of such cultural content deserve more investment and financial support.[3]

See also

References

  1. ^ a b c d Overview – Korea Eximbank, Export–Import Bank of Korea
  2. ^ a b The Roles of KEXIM Archived 2013-03-01 at the Wayback Machine
  3. ^ "Eximbank to finance 'hallyu' businesses". koreatimes. 2013-02-06. Retrieved 2024-11-07.