Korea Eximbank Striving to be
Export Credit Innovation Leader

Achieves remarkable growth commensurate with national economic development

The Export-Import Bank of Korea (Korea Eximbank) has played a part behind Korea's remarkable economic strides. Korea Exhimbank, celebrating its 30th anniversary, saw credits chalking up a 521 fold surge to 28 trillion won from 53.4 billion won since its inception and soaring the bank's percentage of export financing from 2 percent to a current level of 14 percent, particularly to a range of 72-80 percent for plant and shipbuilding exports.
Korea Eximbank Chairman-President Shin Dong-kyu reconfirmed its role as the first support of the Korean economy, saying "Korea Eximbank has spearhead in catapulting Korea to an export powerhouse since its establishment as a policy financing institution and overcoming numerous hardships as it has grown alongside our economic development."He also stressed that Korea Eximbank should come out on top as a supporter of international transactions through continued innovations during a speech he delivered to mark the 30th anniversary of its founding in Yeouido,
Seoul on June 30.
As part of the bank's development strategies, Korea Eximbank Chairman Shin cited its role as a policy financing institution designed to advance the goal of becoming an advanced trade powerhouse, promoting external economic cooperation, and exploring and facilitating export and import financing. He urged the executives and staff members of the bank to break the mold by getting rid of inefficient practices.
Those on hand at the anniversary ceremony held at the 63-story KLI Building International Conference Hall in Yeouido were Deputy Prime Minister-Minister of Finance and Economy Han Duck-soo, Rep. Chung Eui-hwa, chairman of the National Assembly Finance and Economy Committee, Gov. Yoon Jeung-hyun, of Financial Supervisory Service, and representatives of the business, political, and financial circles along with foreign diplomatic community members.
Taking a look at the major achievements of the 30-year history of Korea's Eximbank shows the progress the bank has made during its short history.
Korea Eximbank's credits soared from 53.4 billion won in 1976 to the 2006 goal of 28 trillion won, a 521-fold jump, while its paid-in capital surged from 65.3 billion won in 1976 to 3,295 billion won by the end of May 2006, a 50.4-fold jump. Korea Eximbank's corporate customers surged 88.9 from 18 in 1976 to 1,493 by the end of 2005, while the number of foreign countries to which credits are offered by Korea Eximbank increased 900 percent from 16 to 147. When the bank was founded, it had 80 employees with three divisions and one office. Now Korea Eximbank has expanded to 666 employees with seven headquarters, 12 divisions, 12 offices and one research institute. nw

Deputy Prime Minister Han Duck-soo, Gov. Yoon Jeung-hyun, of Financial Supervisory Service, others attend a ceremony marking the 30th anniversary of the establishment of Korea Eximbank. (right photo) Korea Eximbank Chairman-President Shin Dong-kyu.