Expansion of financial support for resources such as energy/mineral resource development, domestic introduction/storage facilities, etc.
The ‘resource company meeting for supply chain stabilization’ held on the 23rd at the main branch of Sueun in Yeouido, Seoul.
The Export-Import Bank of Korea announced on the 24th that it had held a ‘resource company meeting for supply chain stabilization’ by inviting major foreign resource companies and related organizations at home and abroad at the main branch of Sueun on the afternoon of the 23rd.
25 executives and employees in charge of finance and raw material supply from 17 major domestic resource companies attended the event. The meeting was prepared to explain how to expand major financial support for the resource sector in response to the government's policy for supply chain stability.
At the meeting, Korea Eximbank introduced ▲expanding resource finance support such as energy/mineral resource development and domestic introduction/storage facilities ▲promoting supply chain stabilization through import substitution and traders ▲securing supply chain using sublease finance network. Subleasing is a financial product in which Eximbank lends money to a local bank overseas, and the local bank lends money to local companies for import payments.
Korea relies on foreign imports for about 95% of its mineral demand. In order to secure sustainable industrial competitiveness, stable securing of core minerals is of utmost importance.
At the meeting, Mercury explained in detail mercury financial products for foreign companies that produce core minerals for secondary batteries such as lithium, and loans for processing equipment facilities to Korean companies that substitute imports.
Kim Hyung-joon, head of Project Finance Headquarters of Execution Service, said, “The difficulties faced by Korean companies in the competition to secure a global supply chain and the high expectations for Mercury put a heavy burden on our shoulders. I will contribute,” he said.
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