The state-run Export-Import Bank of Korea recently held a conference on information, communication and technology, inviting more than 150 people working in the ICT sector to share their views and experiences in global expansion.

Korea Eximbank said that the event was aimed at evaluating the economic potential of ICT exports for both the country and the industry, and at looking at ways to further boost global expansion.

ICT has been one of the leading industrial sectors contributing to the country’s growth, along with automobiles, auto parts and shipbuilding, over the years.

With the government seeking the development of a creative economy through policies promoting convergence of technology and culture, the ICT sector is once again emerging into the spotlight, the export financing bank said.

“The ICT industry has been generating new value for the country and society through the convergence of science and technology, and could further grow through synergy with cultural or Hallyu content for overseas expansion,” said Kim Yong-hwan, chairman and president of Korea Eximbank.

Kim added that Korea Eximbank would give full support to the ICT industry by providing financial assistance through policy funds or loans such as the Economic Development Cooperation Fund as a means to help small and medium enterprises grow overseas.

It will also help SMEs find growth opportunities in developing markets through the country’s knowledge-sharing program in which Korea offers lessons of its development model to its emerging economic partners.

Korea Eximbank will providing policy financing worth 12 trillion won ($11 billion) to SMEs in the ICT sector by 2014 with the aim of generating added value of 6.5 trillion won and creating more than 3,000 jobs, the CEO said.

The bank provided financial assistances worth $120 million to Colombia to develop ICT systems for public transportation last year.

By Park Hyong-ki (hkp@heraldcorp.com)