The Export–Import Bank of Korea, also commonly known as the Korea Eximbank (KEXIM), is the official
export credit agency of
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...
.
[Overview – Korea Eximbank](_blank)
Export–Import Bank of Korea
Overview
The bank was first established in 1976.
Its primary purpose is to support South Korea's export-led economy by providing loans, financing mega projects and thereby facilitating economic cooperation with other countries.
Government funds
The bank manages the following government funds:
*
Economic Development Cooperation Fund (EDCF): The EDCF evaluates and implements aid projects in developing countries.
* Inter-Korean Cooperation Fund (IKCF): The IKCF oversees an economic cooperation program with North Korea and serves as a clearing settlement bank with the
Foreign Trade Bank of North Korea.
[The Roles of KEXIM](_blank)
Aid programs
On January 6, 2013, the bank announced its decision to provide loans and credit guarantees worth US$917 million to entertainment and food firms over the next three years to promote the spread of the
Korean Wave
The Korean Wave, or ''hallyu'' (; ), is a cultural phenomenon in which the global popularity of South Korean popular culture has dramatically risen since the 1990s. Worldwide interest in Korean culture has been led primarily by the spread of K-p ...
in foreign countries. A spokesman representing the bank told reporters that
K-pop
K-pop (; an abbreviation of "Korean popular music") is a form of popular music originating in South Korea. It emerged in the 1990s as a form of youth subculture, with Korean musicians taking influence from Western Electronic dance music, danc ...
,
Korean drama
Korean drama (), also known as K-drama or Koreanovela, refers to Korean language, Korean-language television shows made in South Korea. These shows began to be produced around the early 1960s, but were mostly consumed domestically until the rise ...
s, as well as traditional
Korean cuisine
Korean cuisine is the set of foods and culinary styles which are associated with Korean culture. This cuisine has evolved through centuries of social and political change. Originating from ancient Prehistoric Korea, agricultural and nomad ...
have huge growth potential, and that exporters of such cultural content deserve more investment and financial support.
See also
*
List of banks in South Korea
This is a list of South Korean banks and the parenthesized number is the bank number.
Central bank
*Bank of Korea (001)
Specialized banks
Specialized banks are financial institutions established under a special act, not the Korean Banking Act. T ...
References
External links
Official website of the Korea Eximbank
{{DEFAULTSORT:Export-Import Bank of Korea
Banks of South Korea
Export credit agencies
Foreign trade of South Korea
South Korean companies established in 1976
South Korean foreign aid
Banks established in 1976
Government-owned banks of South Korea
Companies based in Seoul