Korea Eximbank Sets Up Global Expansion K-Finance Council with Major Commercial Banks

Korea Eximbank President Hwang Ki-yeon poses for a photo after signing a nuclear power development cooperation MOU among Korea Eximbank, Meralco and KHNP at the Korea-Philippines Business Forum in the Philippines on Mar. 4. (From left) Ferdinand Ferrer, President of the Philippine Chamber of Commerce and Industry; Maria Roque, Secretary of the Department of Trade and Industry; Manuel Pangilinan, Chairman of Meralco; Jeon Dae-wook, Acting President of Korea Hydro & Nuclear Power; Hwang Ki-yeon, President of Export-Import Bank of Korea; Kim Jung-kwan, Minister of Trade, Industry and Energy; Ryu Jin, Chairman of the Federation of Korean Industries (FKI) (Photo: Korea Eximbank)

The Export-Import Bank of Korea (Korea Eximbank) announced on Mar. 2 that it officially launched the Global Expansion K-Finance Council at its headquarters in Yeouido, Seoul, on Feb. 27, together with six major Korean commercial banks — KB Kookmin, Shinhan, Woori, Hana, NongHyup and Suhyup.

This collaboration focused on implementing the Korean government’s core policy of productive finance through public-private financial cooperation.

Regular meetings and department-level working-level consultations will explore practical financial support measures.

The goal is to ensure that overseas orders for Korean companies and their export growth lead to the revitalization of domestic production sites, thereby creating social value by stimulating Korea’s regional economies.

Key areas of their cooperation include sharing market information and trends related to overseas orders and expansion, the early identification of promising projects and the assessment of financial needs, and customized financial support through business structuring, including joint loans and guarantees.

They will target not only large-scale order-winning industries such as the shipbuilding, defense, and nuclear power industries, but key new growth industries, such as the artificial intelligence (AI) industry which will drive Korea’s future.

“As a policy finance institution specializing in external transactions, Korea Eximbank will drive the qualitative growth of Korean finance through strategic role-sharing with private financial institutions,” a Korea Eximbank official said.

“We will take the lead in ensuring business stability and making the ample liquidity of private finance facilitates Korean companies’ overseas expansion.”

Financial Partner for Philippines’ Nuclear Power Plant Projects

Korea Eximbank will serve as a financial partner for the Philippines’ nuclear power plant projects.

On Mar. 4, the bank signed a tripartite MOU with Korea Hydro & Nuclear Power (KHNP) and Meralco, the Philippines’ largest private power company, in Manila of the Philippines, to cooperate on the implementation of the Philippine nuclear power plant projects.

Meralco is the largest infrastructure company in the Philippines, accounting for approximately 55% of total electricity consumption, and is considered a key partner with potential influence in placing new orders for the Philippines’ overall power infrastructure.

This MOU was signed to support the Korean nuclear power industry’s position in the local market from a financial perspective in honor of Korean President Lee Jae-myung’s state visit to the Philippines.

Key elements include reviewing Korean Eximbank’s financial support for Meralco’s nuclear power projects, providing customized financial packages for Korean companies participating in the project, and creating a nuclear power ecosystem that combines K-Nuclear Power’s technological prowess with Meralco’s network.

Building on its track record of financial support in the Philippine energy market, Eximbank plans to lead this collaboration and actively serve as a financial bridge to further strengthen the competitiveness of Korean companies in winning nuclear power plant orders.

Roundtable for Defense Industry SMEs in Changwon

Korea Eximbank officials visited Changwon, South Gyeongsang Province, the center of the Korean defense industry, to listen to the voices of those working at SMEs and propose practical financial support measures.

Korea Eximbank announced on Mar. 12 that it recently held the Defense Industry SME Roundtable with the Korea Defense Industry Association (KDAA) at the Grand Mercure Ambassador in Changwon.

Approximately 20 people, including executives from major defense-related companies in the Gyeongsangnam-do region, attended the meeting.

The event was designed to explore the challenges faced by the SMEs and provide information on tailored policy financing support measures being implemented by Korea Eximbank to promote the K-defense industry’s exports.

Corporate representatives in attendance shared their experiences with current business environments, including heightened geopolitical tensions, fluctuating raw material prices, and a restructuring of global supply chains, and urged Korean policy finance institutions to play proactive roles.

To this end, Korea Eximbank detailed its comprehensive financial support packages.

Key highlights include 100 trillion won in support for strategic order sectors such as the defense industry, nuclear power plants, and infrastructure, a 150-trillion-won financial support package to promote exports and support measures for the Supply Chain Stabilization Fund.