- Four signatories mustered their will to overcome the dire market situation
- Proactive financial support in the trend of pre-export financing
- One-stop service of financial aid/advice/arrangement and insurance cover

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced on July 26 (Tue) that it signed a quadripartite MOU on mutual cooperation to increase the investment opportunities of Korean companies in the overseas natural gas infrastructure development projects.

■ This MOU was signed as a part of Korean government’s endeavors to muster the different capacity owned by each government ministry and institution to help Korean companies gain a bigger share in the overseas natural gas market faster than others by setting up a proactive support system in the rising trend of wining a contract with a packaged deal that all includes engineering, procurement, construction, and financing (EPCF) in one contract.

○ Noting the new market trend in the overseas natural gas infrastructure development tilted toward all-inclusive EPCF packaged deal, the signatories of MOU agreed to support Korean companies by setting up a pre-export finance support model, which is the best optimized financing scheme to the new market trend.

■ The MOU plans to integrate the separate capacity of four institutions ？ political risk cover by K-sure, financing and financial advice by Korea Development Bank (KDB) and NH Bank, and infrastructure management knowhow by Korea Gas Corporation (KOGAS), and offer the service in one-stop, enhancing the bid-winning competitiveness of Korean companies.

【 The role of each signatory 】
- K-sure : Provide trade insurance covers against political risks of less developed countries
- KDB : Perform as a financial advisor while providing financial arrangement and investment
- NH Bank : Take the investment and financing role of project deals
- KOGAS : As a strategic investor, provide project-related information and operational knowhow of facility management

■ Mr. Kim Young-hak, president of K-sure stated that “In a dire project market situation. it is crucial for us to offer competitive financial solutions to Korean companies to ensure their success from overseas resource development projects.

○ K-sure will help Korean companies write success stories from overseas infrastructure projects by shifting our business focus from the construction and engineering to the financing-centered model.”


* Picture : K-sure signed a quadripartite MOU on July 26 (Tue) at the KDB Headquarters. From the right, President Kim Young-hak of K-sure, President Lee Seung-hun of KOGAS, Chairman Lee Dong-geul of KDB and President Lee Kyung-seob of NH Bank.