The Export-Import Bank of Korea said Wednesday it will allocate 7 trillion won ($4.78 billion) to its Economic Development Cooperation Fund by 2027, aiming to bolster South Korea’s supply chain network through policy financing for developing economies.
The state-run lender outlined its midterm EDCF strategy for the 2025-2027 period during a 2025 EDCF Strategy Meeting with industry officials held in Seoul on Tuesday. Eximbank manages the EDCF on behalf of the government, providing long-term, low-interest loans to support industrial growth and economic stability in developing nations while facilitating the global expansion of Korean companies.
Under the three-year plan, the bank has approved 14.1 trillion won in EDCF loans, with 7 trillion won set to be executed during the period. Eximbank's EDCF operation committee reviews and updates the mid-term plan annually.
While funding will focus on green energy, digital transformation and supply chains, the bank also plans to strengthen supply chain connectivity through government-led financing initiatives, including the EDCF, supply chain funds and other policy financing programs. It will also seek to identify large-scale landmark projects.
During the event, Eximbank Senior Executive Director Hwang Ki-yeon said, "The bank will launch around 40 EDCF projects this year, totaling 4 trillion won, aiming to expand the foundation for the overseas expansion of domestic companies and support their bidding opportunities."
jwc@heraldcorp.com
