- To support and promote Korean companies’ business in Latin America
- By opening a new local branch in Mexico, K-sure aims to win the huge market of Mexico, the No.1 trading partner in Latin America

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced that it signed two MOUs with Mexican financial institutions to deepen its economic cooperation with the country, the largest trading partner in Latin America and an important beachhead for the business in the region.

■ On April 4, Tuesday (local time), K-sure signed a MOU with Banco Santander(Mexico), S.A to promote Korean companies’ participation in local projects.

○ Thank to the MOU, Banco Santander set $500 million of preliminary credit limit with on？guarantee provided by K-sure. The arrangement is expected to provide fast financial support to Korean companies joining in projects in Mexico and facilitate information and HR exchanges in the area of finding new buisness opportunities in the joint project market.

■ On the following day of April 5, Wednesday, K-sure also signed a MOU with Bancomext, an ECA of Mexico on cooperation in trade insurance to promote bilateral cooperation for financial supports targeting overseas projects.

○ The MOU is expected to enhance the bid-wining prospect of Korean companies in projects in Latin America as it is to extend the co-financing and cooperation boundary between the two institutions regarding the projects joined by companies of the two countries but done in the 3rd countries other than Korea and Mexico.

■ Among Latin American countries, Mexico is the 2nd largest market following Brazil but No. 1 trading partner of Korea since 2 years ago. Thanks to the popularity of K-pop and Korean dramas among the locals, Korean brands are gaining better brand recognition among the Mexican consumers.

○ Given the strategic importance of the market, K-sure plans to open a local office in Mexico to further our support to Korean companies operating in the country.

■ Mr. Kim Young-hak, president of K-sure, visited Mexico as a member of the Korean delegation of the Presidential Visit to the country stated that “These two MOUs are expected to provide practical momentum to Korean companies to win projects in not only Mexico but also the region.

○ K-sure will do its utmost to support Korean companies entering Mexico which is fast rising as an attractive consumer market.“