- Aims to expand Korean SME’s infrastructure export to emerging market.
- Expected to bring a “win-win” situation by supporting exports of SMEs and major companies at the same time.

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced its decision of providing EUR64 million of export credit to Hyundai Rotem’s contract to supply 68 trams to Turkey.

■ In the deal, the city of Istanbul ordered a fleet of 68 trams to increase the transportation capacity of Line M2 as more passengers are using the line after it is extended further and connected to other tram lines.

○ Hyundai Rotem will manufacture the fleet at its plant in Turkey and the trains will run through 16 stations from Haciosman to Yenicapi.

■ The export is to bring in additional positive effect of employment to Korean SMEs and economy as around 50 Korean SMEs are to join in the deal, addressing a 25% of total procurement needs of the contract.

○ The deal is also expected to lead to additional following orders from other Turkish rail projects, increasing the prospects of Korean SMEs exports to the country.

■ Mr. Kim Young-hak, president of K-sure stated that “K-sure will further intensify its support to Korean companies with excellent technology for them to take a better share in the railroad market of emerging countries.

○ Our support will be especially focused on projects that can bring “win-win” situations to both big conglomerates and small enterprises through exports and trade.“

【 M2 Tram Map 】