Announcement
19 Feb 2014
On 19 February 2014 the Export-Import Bank (ExImBank) of Korea announced increasing the budget of maritime support with 20% equivalent to KRW 600 billion (ca. USD 500 million) in ship financing. The Eximbank of Korea operates with various financial instruments, including direct loans, ship bond guarantees and comprehensive guarantees, to promote its maritime sector. More information on the ship financing can be found on the official website or the "Guide to the Import-Export Bank of Korea" publication.
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Number of interventions
2
0 certainly harmful
2 likely harmful
0 liberalising
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Updated: 19 Feb 2014
Loan guarantee
The Bank is seeking to diversify its ship financing tools by introducing the ship bond guarantee, which guarantees project bonds issued by Korean shipping companies to finance vessel purchases.
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Updated: 19 Feb 2014
State loan
The Bank announced plans to provide a total of KRW 20 trillion (ca. USD 1.7 billion) in credit to the ship and offshore sector this year (KRW 14 trillion to the ship sector and KRW 6 trillion to the o...
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