- A U$2B of preset credit line agreed with CCB for OBOR related joint projects
- CA with Sinosure on exploration and financial collaboration for OBOR related project opportunities


■ In the wake of President Moon Jae-in’s state visit to China, Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Moon Jae-do, president) aims to strengthen its cooperative ties with leading financial institutions of China to reinforce its support to overseas projects jointly pursued by Korean and Chinese companies, mainly centering on China’s One Belt One Road (OBOR) Initiative.


■ K-sure announced its MOU with the China Construction Bank (CCB), which was signed on Wednesday, December 13, in Beijing, China. The MOU aims to intensify financial support to Korean and Chinese companies’ overseas projects jointly pursued in third countries with its focus on finding business opportunities of OBOR related projects.

* China Construction Bank (CCB)
- The second largest bank in the world by market capitalization 100% owned by the Chinese government. Established in 1954 for managing the national construction fund, the bank now offers consumer and corporate banking and international financial services after the introduction of the reform and opening-up policy of China.

○ The key issues agreed by the MOU are ▲ finding OBOR related joint project opportunities for Korean and Chinese companies, ▲ presetting a U$2 billion of credit limit by CCB to expedited loan provision for projects supported by K-sure’s guarantee, ▲ giving priority to CCB as for the loan arrangements accompanying K-sure’s guarantee, and ▲ promoting active information exchange between K-sure and CCB.

○ Through this MOU, CCB is now able to offer prompt loan provision within the preset limit of U$2 billion once K-sure decides to support projects jointly pursued by Korean and Chinese companies in third countries.


■ Meanwhile, on Thursday, December 14, K-sure also signed a Cooperative Agreement (CA) with Sinosure, a Chinese export credit agency, to enhance mutual export credit supports to projects involved in the OBOR Initiative.

* Sinosure
* Established in 2001, No.1 export credit agency in the world in terms of the underwriting amount with its ownership 100% held by the Chinese government.

○ The main issues covered by the CA are ▲ finding business opportunities and exchanging information with regard to third country projects that could be jointly pursued by Korean and Chinese companies, ▲ reinforcing mutual financial support to Korea-China joint projects, and ▲ beefing up the cooperation in collection and recovery of overseas receivables.


■ President Moon Jae-do of K-sure, who led the signing of the MOU and the CA and joined the state visit as a member of the Korean economic delegation, stated that, “The foundation of mutual cooperation laid through the MOU and the CA will be a crucial stepping stone for both of our nations’ endeavor for further strengthen our economic cooperation,

○ “Given the fact that the MOU and the CA are signed with China’s leading financial institutions, they are believed to facilitate Korean and Chinese companies’ mutual business collaboration in the global project market,

○ “For the strong economic potential and impact possibly created by the OBOR Initiative as a potential growth engine of the global economy, K-sure will do its utmost to maximize our trade insurance support to Korean companies for them to achieve successful outcomes from the global project market.”

【 K-sure - CCB signing a MOU for OBOR related financial collaboration 】

* K-sure (Moon Jae-do, President) signed a MOU with CCB on Wednesday, December 13 in Beijing, China for beefing up mutual cooperation for the OBOR Initiative. From left, Mr. Moon Jae-do, President of K-sure, and Mr. Zhang Gengsheng, Executive Vice President of CCB

【 K-sure - Sinosure signing a CA for OBOR related export credit support 】

* K-sure (Moon Jae-do, President) signed a Cooperative Agreement with Sinosure on Thursday, December 14 in Beijing, China for export credit support for the OBOR Initiative. From left, Mr. Moon Jae-do, President of K-sure, and Mr. Wang Yi, Chairman of Sinosure and Secretary of the Party Committee.