Export-Import Bank of Korea

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Export-Import Bank of Korea
Public
Industry Banking
Financial services
Founded 1976[1]
Headquarters Seoul, South Korea
Key people
Yong Hwan Kim, CEO
Products Investment Banking
Commercial Banking
Retail Banking
Private Banking
Asset Management
Website Official 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[edit]

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[edit]

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[edit]

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]

References[edit]

External links[edit]