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The Export-Import Bank of Korea (KEXIM), also known as Korea Eximbank, is the official export credit agency (ECA) of South Korea. It was established in 1976 with the aim to provide comprehensive export credit and guarantee programs to support Korean enterprises conducting overseas business.

KEXIM plays a crucial role in facilitating and promoting South Korea’s export-led economic growth. It is an important pillar of the country’s trade strategy and globalization efforts.

Some key facts about KEXIM:

  • Legal Name: The Export-Import Bank of Korea
  • Headquarters: Seoul, South Korea
  • Leadership: Hee-seong Yoon, CEO
  • Products and Services:
    • Export credits
    • Loans
    • Guarantees
    • Trade finance
    • Investment
  • Government Funds Managed:
    • Economic Development Cooperation Fund (EDCF)
      • For aid projects in developing countries
    • Inter-Korean Cooperation Fund (IKCF)
      • For economic cooperation with North Korea

Over the decades, KEXIM has actively aided the expansion of Korean enterprises to overseas markets by providing favorable export financing terms and mitigating risks. It plays a complementary role to private financial institutions in South Korea in promoting exports and overseas investments.

The bank has evolved its offerings over the years to support Korean firms in capital goods export, overseas infrastructure projects, high technology exports, natural resource development, etc. Its scope extends beyond trade into Korea’s economic cooperation and diplomatic efforts with developing countries and North Korea.

Main Functions

As the official export credit agency of South Korea, KEXIM performs several key functions to support the country’s economic and trade objectives:

Export Credits

KEXIM provides comprehensive export credit and guarantee programs to Korean enterprises venturing into overseas business. This includes:

  • Export loans at preferential rates and flexible repayment terms
  • Export payment guarantees and insurance to mitigate risks
  • Overseas investment credits
  • Trade finance solutions like export bill discounting

By facilitating export transactions in capital goods, industrial plants, infrastructure projects, and high technology products, KEXIM enables Korean firms to enhance their competitiveness globally.

Development Aid

KEXIM manages South Korea’s Official Development Assistance (ODA) operations through two government funds:

  • Economic Development Cooperation Fund (EDCF)
    • Appraises, finances and evaluates aid projects in developing countries
    • Focuses on infrastructure, industry, and human resources development
    • Promotes Korea’s diplomatic and economic ties with partner countries
  • Inter-Korean Cooperation Fund (IKCF)
    • Manages grants and loans for North Korea
    • Acts as the settlement bank for inter-Korean trade

This allows KEXIM to combine trade promotion with Korea’s development cooperation and unification efforts.

Information Services

KEXIM also provides business intelligence on overseas projects, trade contacts, and insights into foreign markets. This helps Korean companies in targeting new opportunities and expanding exports.

In summary, KEXIM positions itself as a strategic enabler of Korea’s export-oriented economic policy and global outreach.

Key Milestones

Since its establishment in 1976, KEXIM has expanded in scale and scope of operations. Some key milestones in its evolution are:


  • Commenced operations with authorized capital of 150 billion Korean Won
  • Main focus on export credits and loans


  • Diversified settlement currencies for export contracts from 4 to 20 countries
  • Secured major foreign loans for on-lending
    • USD 300 million syndicated loan from 46 overseas institutions
    • JPY 10 billion loan from 17 foreign institutions including LTCB


  • Launched monitoring system for high-risk countries
  • Introduced risk rating system for overseas partner banks


  • Issued first benchmark USD 1.25 billion 10-year bond since 2008 crisis
  • Won ‘Best Asia ECA’ and ‘Best Middle East ECA’ awards from Trade Finance Magazine


  • Issued largest USD 2.25 billion global bond
  • Provided USD 1.75 billion financing for Sabine Pass LNG project
  • Reorganized risk management framework
  • Funded inter-Korean projects like the Gyeongwon Railway Line
Year Key Milestones
1978 Commenced operations with 150 billion KRW capital
1983 Expanded currencies, major foreign loans
2003 Enhanced risk management systems
2014 Issued benchmark bonds, won awards
2015 Landmark projects, risk framework

Through these developments, KEXIM has emerged as a leading ECA in Asia with comprehensive financing capabilities and a prudent approach to risk management. It continues to evolve in line with Korea’s policy priorities and global economic landscape.

Current Status

Today, KEXIM plays a strategic role in supporting South Korea’s economic growth and global ambitions. Some key aspects of its current status:


  • KEXIM’s vision is to be “Your Partner for Global Business”
  • It aims to continuously foster innovation to support Korean enterprises as they expand internationally


  • Export Credits: Loans, guarantees, insurance for overseas contracts
  • Trade Finance: Discounting of bills, letters of credit, etc.
  • Investment: Credits for overseas investments and projects
  • Development Aid: EDCF and IKCF funding
  • Business Intelligence: Market insights and opportunity identification


  • KEXIM has total assets of over USD 100 billion (as of 2018)
  • It has cumulatively supported exports worth over USD 500 billion
  • Over 50 overseas offices and representatives for global connectivity


  • KEXIM maintains strong investment grade credit ratings:
    • Moody’s: Aa2
    • S&P: AA
    • Fitch: AA-


  • KEXIM has received awards from renowned industry publications:
    • Best ECA in Asia, Middle East (Trade Finance Magazine)
    • Best Trade Finance Provider (Global Finance)
  • It is a member of Berne Union, the leading association of export credit agencies

With its extensive experience, scale, and expertise, KEXIM continues to facilitate Korea’s overseas economic expansion and trade competitiveness. It has firmly established itself as a leading ECA globally.


In summary, the Export-Import Bank of Korea or KEXIM has played a pivotal role in South Korea’s economic development and global emergence over the past four decades.

Here are some key takeaways:

  • Official ECA: KEXIM is Korea’s official export credit agency, established by the government in 1976 to support overseas expansion.
  • Comprehensive Offerings: It provides a wide range of export credits, guarantees, loans, trade finance and investment solutions.
  • Strategic Goals: KEXIM aligns itself with Korea’s policy priorities around exports, overseas investments, developing country partnerships and North Korea cooperation.
  • Prudent Growth: From humble beginnings, KEXIM has grown into a leading ECA globally with a prudent approach and strong risk management.
  • Awards and Recognition: KEXIM has received extensive recognition through awards and ratings upgrade over the years.
  • Future Potential: With Korea’s continued focus on exports and overseas projects, KEXIM’s role will remain integral.

KEXIM positions itself as a partner to Korean companies pursuing global opportunities. Through customized and innovative solutions, it enables them to enhance competitiveness and mitigate risks.

As Korea aims to be among the top 5 exporting countries, KEXIM’s strategy will continue evolving in line with national objectives and the global economic landscape. It is poised for a bigger role in Korea’s future growth.

In conclusion, KEXIM remains a key pillar of Korea’s export-driven economic policy and will continue enabling overseas expansion of Korean enterprises.


Q1. When was KEXIM established?

KEXIM was established in 1976 by the South Korean government as the official export credit agency. It commenced operations in 1978.

Q2. What are KEXIM’s main offerings?

KEXIM provides export credits, loans, guarantees, trade finance, investment solutions, and business intelligence services to support Korean enterprises expanding overseas.

Q3. How does KEXIM support developing countries?

Through the Economic Development Cooperation Fund (EDCF), KEXIM provides concessional loans and technical assistance for development projects in partner developing countries.

Q4. What role does KEXIM play in ties with North Korea?

KEXIM manages the Inter-Korean Cooperation Fund (IKCF) which finances economic cooperation projects with North Korea and facilitates trade through settlement services.

Q5. How large is KEXIM in terms of assets and global reach?

KEXIM has total assets of over $100 billion and has supported Korean exports worth over $500 billion. It has 50 overseas offices and representatives worldwide.



















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