S. Korea’s Exim Bank joins hands with Polish development bank

BY admin

South Korea's state-run Export-Import Bank of Korea (Exim Bank) said Sunday it has joined hands with Poland's national development bank to enhance business cooperation between the two countries.

Exim Bank, the Korea Trade Insurance Corp. and the Polish development bank of BGK signed a memorandum of understanding in Warsaw, Poland, on Thursday, under which the three institutions will cooperate in strengthening financial support to the infrastructure, transportation and renewable energy sectors.

The BGK, founded in 1924, is a state-owned bank in Poland, assigned to finance export transactions and running governmental financing programs.

Poland is one of South Korea's three largest trading partners in Europe, led by high-tech sectors, including batteries.

Last year, Poland signed deals to purchase an estimated 20 trillion won (US$15.5 billion) worth of Korean weapons, like K2 tanks, K9 self-propelled howitzers and FA-50 fighter jets.

Source: Yonhap News Agency

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