Export–Import Bank of Korea

Export–Import Bank of Korea

Company type	Public
Traded as	BMV: KEXIM
Industry	Banking Financial services
Founded	1976; 49 years ago (1976)[1]
Headquarters	Seoul, South Korea
Key people	Hee-seong Yoon , CEO
Products	Investment Banking Commercial Banking
Parent	Ministry of Economy and Finance
Website	Official Website

The Export–Import Bank of Korea (Korean: 한국수출입은행), 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

• List of banks in South Korea

References

1. Overview – Korea Eximbank, Export–Import Bank of Korea
2. 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.

External links

• Banks portal

• Official website of the Korea Eximbank