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LENDING & CREDIT | Cesar Tordesillas, Korea

Korea's Eximbank ties up with Chinese counterpart

South Korea's Eximbank has signed a cooperation deal with its China's Eximbank to boost bilateral trade.

Eximbank and the Export-Import Bank of China will work together in export financing, project-based financing and shipping financing, said officials.

The two banks will also join forces to guarantee the payment of their businesses and refinance their debt facilities, while trying to expand bilateral exchanges of knowledge, information and personnel.

The deal was signed in Beijing at a meeting between Kim Yong-hwan, president of Eximbank, and his counterpart Shi Yan.

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