Sumitomo Mitsui Banking Corporation and Korea Trade Insurance Corporation Sign Memorandum of Understanding on Trade Finance Cooperation(1/1)
December 7, 2010
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation and Korea Trade Insurance Corporation Sign Memorandum of Understanding on Trade Finance Cooperation
TOKYO, December 7, 2010--- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) signed today a memorandum of understanding (MOU) with Korea Trade Insurance Corporation (gK-sureh) to expand their business alliance into the field of trade finance. SMBC and K-sure signed MOU in the field of structured finance such as project finance and ship finance in October 2007, and the new MOU will further strengthen the business alliance between the two financial institutions.
K-sure, an export credit agency of the Korean government, is a public financial institution specializing in export/import credit insurance, overseas investment insurance, and credit guarantees to support the overseas business and investment of Korean companies.
economic tie between
(Reference; Profile of Korea Trade Insurance Corporation)
Name: Korea Trade Insurance Corporation
(Address: 2-16th Floors,
Seoul Central Bldg. 136 Seorin-dong, Jongro-ku
President: Chang Moo Ryu, Chairman and President
Total Assets: KRW 3,012 billion (as of December 31, 2009)