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Sumitomo Mitsui Banking Corporation and The Export-Import Bank of Korea Sign Memorandum of Understanding on Structured Finance Cooperation(1/1)

July 16, 2010

Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Banking Corporation and The Export-Import Bank of Korea SignMemorandum of Understanding on Structured Finance Cooperation

 

TOKYO, July 16, 2010---Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) signed today a memorandum of understanding (MOU) with The Export-Import Bank of Korea (KEXIM) aiming to strengthen mutual ties in the field of structured finance such as project finance and ship finance.

 

KEXIM, as an export credit agency owned by the Korean government, is a public financial institution specialized in providing comprehensive export credit, guarantee programs, and market research to support Korean enterprises in conducting overseas business and foreign investment.

  

This MOU aims to allow SMBC to provide enhanced financial services to its clients by cooperating with KEXIM in lending to projects such as energy and natural resources development projects outside of Korea.

 

(Reference; Profile of The Export-Import Bank of Korea)

Name:                 The Export-Import Bank of Korea

Establishment:     1976

Head Office:        Seoul

(Address: 16-1, Yeouido-dong, Yeongdeungpo-gu, Seoul)

President:             Mr. Dongsoo Kim, Chairman and President

Shareholders:       Republic of Korea (66.7“), Bank of Korea (Central Bank) (29.4“)

Total Assets:        KRW 42,028 billion (USD 35,995 million) (as of December 31, 2009)

Ratings: Moodyfs:  A1 (Long Term), S&P: A (Long Term), Fitch: A+ (Long Term)

 

 




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