Export–Import Bank of Korea
| File:Korea eximbank.jpg | |
| Company type | 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
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]
References
- ^ a b c d Overview – Korea Eximbank, Export–Import Bank of Korea
- ^ a b The Roles of KEXIM
- ^ Eximbank to finance 'hallyu' businesses, The Korea Times