- K-sure signed a MOU on interbank financing to promote exports to the region

■ K-sure laid a meaningful stepping stone for expanding the African market, the last blue ocean of the global exports.

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced that, on May 29, Friday (local time), on the sidelines of President Park Geun-hye’s visit to Ethiopia, it signed USD100 million worth of a MOU on trade fiance cooperation with the Commercial Bank of Ethiopia (CBE), the largest bank in the country to promote Korean companies’ business in the country and the region. The signing was held in Adisababa, the Capital of the country.

■ Through this MOU, USD100 million of credit limit for interbank financing was set to provide export financing to buyers in the country for their purchase of Korean products.

■ The MOU is expected to significantly increase our exports to the country as it provides buyer’s credit (enabling buyers to make payment 1 year after the product delivery) with covers against non-payment risk (providing payments at the point of export).

■ Mr. Kim Young-hak, president of K-sure stated that “Africa is the last blue ocean left in the realm of global business, but its inherent limits such as lack of market information and weak financial infrastructure make the market less attractive to Korean exporters to have a business with.

○ K-sure will do its best to provide needed trade credit support to Korean companies for their fast market expansion into the market by reducing business risks through our proactive export financing.“


* Picture : K-sure signed a MOU with CBE on May 27 to support Korean exporters business in the country. From right to left President Kim Young-hak of K-sure and Governor Bekalu Zeleke of CBE.