The Export-Import Bank of Korea vowed to strengthen its support for overseas project financing by cooperating with foreign investment banks and other financial institutions.

The state-controlled bank hosted a forum for the three parties ― Korea Eximbank, IBs and financial institutions ― on active information sharing and organic support for local firms entering the overseas markets.

“The overseas business expansion of Korean companies is not just about business growth but also closely involves the country’s competitiveness in exports and its degree of internationalization,” said Seol Young-hwan, the senior executive at Korea Eximbank, in his opening address.

Some 120 attendees, including bank executives from Shinhan Bank and KB Kookmin Bank, as well as international investment bank executives from BNP Paribas and HSBC showed up at the forum. Law firm executives also attended the event to address the legal issues concerning the project bonds.

The forum came amid rising expectations for Eximbank and its soon-to-be-launched consulting center for the ambitious SMEs headed overseas.

The consulting center is to open in January 2014, providing advisory service to the local small and medium-sized companies on setting up business infrastructure overseas, business strategies and financing plans.

The attendees delivered seven presentations on topics including Eximbank’s ship-financing policies such as the guarantee system for ship-related bonds, and PF-at-a-glance by BNP Paribas and KDB Daewoo Securities.

By Chung Joo-won (joowonc@heraldcorp.com)