- More project financing for Korean companies is expected through risk mitigation
- Attended at the BU General Meeting, President Kim of K-sure discussed ways to diversify the cooperative channels among ECAs.

■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Kim Young-hak, president) announced that, on October 25 (local time), it signed a Framework Reinsurance Agreement with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in Lisbon, Portugal.

■ The agreement is to support Korean companies’ exports and overseas investment toward 43 Islamic countries with its main focus on countries in Middle East. The core of the agreement is ▲ to provide export financing to Korean companies participating in projects of ICIEC members, and ▲ to promote cooperation with ICIEC members for Korean companies’ investment in the ICIEC member countries.

○ K-sure expects the agreement would bring a firm foot step to Korean companies for their market penetration into the Islamic markets in Middle East, Africa and other regions based on the ICIEC’s business network and financial know hows achieved through the agreement.

■ Meanwhile, after signing the agreement, Mr. Kim Young-hak, president of K-sure attended the Berne Union (BU) Annual General Meeting held in Lisbon, Portugal, and discussed with other ECA members on how to promote cooperation among BU members regarding major projects in Iran and Turkey, and diversify cooperation channels as more members joining in the Union.


* Picture : K-sure signed a Framework Reinsurance Agreement with ICIEC on October 25 in Lisbon, Portugal. From the right, President Kim Young-hak of K-sure and CEO Oussama Kaissi of ICIEC.