KEICKorea Export Insurance Corporation
KEICKingdatron Electronic Industrial Co. (Taiwan)
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support plan to be announced early next month," KEIC said.
The MoU was signed by Soiles Bhattacharya, Director (Finance)/SAIL and Ryu Chang-Moo Chairman and President/ KEIC).
KEIC, a Government agency of the Republic of Korea promotes Korean business entities' exports, overseas investments and other overseas businesses through its diverse programmes including its insurance and guarantee products.
Alongside JBIC, two South Korean agencies, Export Import Bank of Korea (Kexim) and Korea Export Insurance Corporation (KEIC), have also played key roles in financing Gulf schemes.
To help fill the gap, Ex-Im Bank is extending a 10- year loan and the Korean Export Insurance Corporation (KEIC) will be making a shorter term loan of $275 million.
Korea Export Insurance Corporation (KEIC) will introduce Overseas Business Financing Insurance (OBFI) and Overseas Natural Resources Development Fund Insurance (ONRDFI).
Insurance coverage of Foreign Exchange Risk Insurance (FERI) of KEIC has been extended from US$5 billion to US$8 billion in end 2006.
The funds came as loans from the Korean Export Import Company (KEIC) and Samsung Corp.
Further funds will be provided as direct loans and guarantees totalling more than $3 billion from export credit agencies JBIC, NEXI, KEXIM, KEIC and SACE.