- To support Korean companies entering into Visegrad countries thru close financial cooperation with the local ECA
- Expect to see more business of Korean companies in Central Europe thanks to K-sure’s multi-faceted support

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced that, on the sidelines of President Park Geun-hye’s visits to European countries, it concluded a MOU with the Eximbanka SR of the Slovak Republic on December 1 (local time) for financial cooperation to better assist the business of Korean companies in the Central European region.

■ The signing was held at the Headquarters of Eximbanka SR located in the country’s capital, Bratislava. The MOU mainly focuses on ▲ finding new projects or business opportunities that companies of both countries can work in joint participation, ▲strengthening the mutual cooperation in the area of export and investment financing, and ▲ increasing the level of human and information exchange including the cases of providing overseas investment financing.

■ The Slovak Republic, which is a member of the Visegrad along with Poland, Hungary and the Czech Republic, is a strategically important country in Central Europe which has a huge potential of mutual cooperation in various areas including economy and trade.

○ Also, as of last year, the country is one of Korea’s major trading partners with the 7th largest trading volume in Europe. Currently 70 Korean companies are operating in the country and, as a rising emerging market, there is a huge room for further growth in mutual cooperation.

○ Long before signing this MOU, Slovakia has been K-sure’s constant interest for its strong growth potential as a promising future export market for Korean companies. In 2005 K-sure supported KIA Motors for its opening of production site in Zillina, Slovakia, noticing the promising prospect of the country’s economy.

■ K-sure said that a close cooperation and network between the ECAs of the two countries would facilitate Korean companies’ business in the country and the region, boosting the trade between the countries.

■ Mr. Kim Young-hak, president of K-sure stated that “In a fast changing trade environment, providing export credit and setting up a global network are essential ingredients for reinforcing the export competitiveness of Korean companies.

○ “K-sure will not spare any of its support to help Korean companies create new opportunities from untapped new markets by continuing its search for good business partners and chances of enhancing mutual cooperation for the sake of Korean companies working hard to expand their business frontier into new emerging markets even with challenging market conditions.”


* Picture : K-sure signed a MOU on financial cooperation with the Eximbanka SR of the Slovak Republic on December 1, Tuesday at the bank’s Headquarters. From right to left, President Young-hak Kim of K-sure and Governor Igor Lichnovsky of the Eximbanka SR. (Photo: K-sure)