The Export-Import Bank of Korea (Korea Eximbank) has signed a Memorandum of Understanding with Germany’s KfW IPEX-Bank in Frankfurt to boost high-tech innovation and fortify supply chains.
As informed, the two banks agreed to join efforts in identifying and co-financing projects in strategic sectors like high-tech, decarbonization, and critical minerals supply chains.
This collaboration is expected to benefit Korea Eximbank’s support for Korean companies by backing their involvement in key sectors such as eco-friendly ships, hydrogen, ammonia plants, renewable energy, electric vehicles (EV) and batteries.
“The partnership between KfW IPEX-Bank and Korea Eximbank holds immense potential. I believe this collaboration will provide valuable support for critical mining projects, renewable energy endeavors, hydrogen infrastructure development and eco-friendly ships, benefiting both Korean and European companies,” Velibor Marjanovic , Member of Management Board of KfW IPEX-Bank, said.
“This MOU with KfW IPEX-Bank, a strong supporter of European decarbonization, high-tech, and infrastructure development, lays a solid foundation for future cooperation. With this agreement in place, Korea Eximbank will actively champion Korean-German partnerships in emerging industries and supply chains, leveraging our extensive global networks to enhance Korean companies’ competitiveness,” Hee-sung Yoon , Korea Eximbank’s Chairman & CEO, commented.
KfW IPEX-Bank is Germany’s top ship financier that supports projects involving alternative propulsion systems as well as electrification. Yesterday, the bank announced it would grant €90 million for the construction of Smyril Line’s e-methanol-ready roll-on/roll-off (RoRo) ships.
The Export-Import Bank of Korea is an official export credit agency (ECA) providing comprehensive export loan and guarantee programs to support Korean enterprises conducting business overseas.