SEOUL, March 31 (Korea Bizwire) – The Export-Import Bank of Korea, one of South Korea’s state-run policy banks, suffered a net loss of 1.46 trillion won (US$1.3 billion) last year, hit by higher provisions against its loans extended to the country’s ailing shipbuilding industry. It was the first time that the bank reported an annual [...]
SEOUL, March 30 (Korea Bizwire) – South Korea is badly in need of exporting more consumer goods to China to help improve a longstanding imbalance between export items and gain a share in the rapidly-growing consumer goods market there, a bank report said Wednesday. In 2014, Korea topped other countries by posting US$190 billion in [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s two policy lenders have shouldered massive bad loans, estimated at 5.5 trillion won (US$4.75 billion), over the past five years, due to a series of collapses of big name companies during the economic slump, a report said Tuesday. The Korea Development Bank (KDB) and the Export-Import Bank of [...]
SEJONG, June 29 (Korea Bizwire) — South Korea aims to increase its outbound investment by US$15 billion annually through an overhaul of tax schemes and more overseas investment by the state pension fund that can help offset some of the fallout from the country’s ballooning current account surplus, the government said Monday. The bold measures [...]
BUSAN, May 14 (Korea Bizwire) — HSH Nord Bank, a German financial institution specializing in ship and marine affairs is expected to extend its reach to Busan, the largest port city in Korea. On May 13, Busan Metropolitan City signed an MoU together with Nord Bank and the Export-Import Bank of Korea on the opening of [...]
SEOUL, Dec. 4 (Korea Bizwire) – The Export-Import Bank of Korea (Korea Eximbank) plans to provide US$1.3 billion worth of financing to an integrated steel mill which Korea’s POSCO E&C is building in Brazil. Korea Eximbank announced on December 3 that it would make a US$1.3 billion investment in the plant, including a US$910 million loan [...]
SEOUL, Aug. 21 (Korea Bizwire) – With the partnership between the Export-Import Bank of Korea (Korea Eximbank) and the Investment Corporation of Dubai (ICD), it is expected that Korean firms will expand their business opportunities in infrastructure and energy market in overseas including the Middle East. According to the Eximbank, it has signed a memorandum of [...]