Eximbank Korea seals nuclear financing pact with Vietnam

Export-Import Bank of Korea has signed a four-way agreement in Vietnam to deepen financing cooperation for nuclear projects, while supporting Seoul's push to expand exports of Korean nuclear technology.

The state-run lender said Thursday it signed a memorandum of understanding in Hanoi a day earlier with Korea Trade Insurance Corp., Korea Electric Power Corp. and Vietnam National Industry-Energy Group, or PVN, to explore financing cooperation for Vietnam's nuclear power projects.

The agreement came during President Lee Jae Myung's visit to Vietnam for a summit with Vietnam's President To Lam, where the two sides signed around a dozen documents covering areas including nuclear development and financial cooperation.

The memorandum builds on commitments made at the previous Korea-Vietnam summit in August 2025 and provides a framework for turning broader pledges on nuclear cooperation into more concrete economic outcomes.

During the signing ceremony, Lee and Lam attended alongside Eximbank Korea Chairman and CEO Hwang Ki-yeon and PVN Chairman Le Ngoc Son, highlighting the importance of nuclear financing cooperation for both sides.

The agreement covers potential financing measures for Vietnam's planned nuclear projects and efforts to advance financial models aimed at improving project viability, while also establishing a standing communication channel among the four parties to coordinate future nuclear-related financing.

Eximbank has designated Vietnam as a strategic market and has long provided financing support across sectors including infrastructure and energy. In particular, it has built ties with PVN through work on major projects in Vietnam spanning power generation and refining.

"The multilateral memorandum marks a meaningful starting point for extending Eximbank's accumulated financing expertise into Vietnam's nuclear power sector," Hwang said. "The bank would continue strengthening its role as a trusted financial partner to help Korean companies establish themselves as key players in Vietnam's nuclear power market."