- K-sure provides USD 66 M of support to Hyundai Corporation’s export to Turkmenistan
- First case of expanding into the country’s consumer market from previously energy and infrastructure centered exports.

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced its USD 66 million of support to Hyundai Corporation’s contract with the Ministry of Motor Transport of Turkmenistan to export a fleet of 500 buses.

■ Thanks to K-sure’s “comprehensive risk cover” program which provides insurance cover against all risks arising from every step of export, Hyundai Corporation successfully completed the export contract with the Turkmenistan side on May 31, 2016. According to the contract, the delivery will be made gradually during the period between September of 2016 and May of 2017.

■ Industry insiders view the case as a meaningful step forward into Turkmenistan as the deal expanded our business boundary further into the product market of the country. Previously, Korean export to the country was mainly centered on the energy and infrastructure business for the country’s ample natural resources.

■ Mr. Kim Young-hak, president of K-sure stated that “To overcome the current dire export market situation and secure the export competitiveness of Korean companies, it is crucial to boldly enter into emerging markets such Turkmenistan, which are a bit risky but with a huge business potentials.

Though it is a challenging market with high risks, emerging markets of Central Asia such as Turkmenistan are highly promising at the same time. K-sure will provide more trade insurance support to Korean companies which boldly enters into the markets despite challenges and risks.“