- K-sure provides export credit to Samsung for its U.K. biomass power generation project

■ Amid a strong trend of a coal-free economy caused by OECD’s strict rules on coal-fired power generation, K-sure rolled up its sleeves to support Korean companies to expand into the environmentally friendly new and renewable energy markets.

○ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced that it would provide a total of GBP 150 million (USD 200 million) worth of mid and long-term export insurance for a U.K. biomass combined heat and power (CHP) generation project.

■ This is the world largest biomass power generation project using environmentally friendly wood pellets as a main fuel source. Korea’s Samsung C&T Corporation joins in the project as an EPC provider.

■ K-sure decided to support the deal to help Korean companies’ business in the environmentally friendly new and renewable energy market in the run up to the global trend of a coal-free economy caused by strict global environmental demands such as green house gas emission reduction.

■ Mr. Kim Young-hak, president of K-sure stated that “Due to the intensifying global stance against global warming such as UN Convention on Climate Change, the financing options for companies joining in coal-fired power generation projects are expected to be further reduced.

○ In the rising trend of coal-free clean power generation, K-sure will actively provide its export credit to Korean energy and plant companies bidding to environmentally friendly energy projects.“