The Korea Trade Insurance Corporation (K-SURE) is expanding its advance financial support to include resource acquisition projects and the Asian infrastructure market. This initiative aims to assist overseas projects facing funding challenges as investments concentrate on large-scale ventures such as artificial intelligence (AI), thereby broadening the bidding base for domestic companies.
K-SURE announced on September 15 that it held the 37th Gwanghwamun Forum in Jung-gu, Seoul, on September 14, where it shared the outcomes of mid- to long-term financial system improvements and its support direction for the second half of the year. The Gwanghwamun Forum, which began in 2008, serves as a platform for stakeholders in overseas projects to discuss global market changes and support measures for international business.
During the forum, participants discussed mid- to long-term financial support strategies in response to the rising demand for financing in AI and energy transition sectors, as well as the deteriorating funding conditions in emerging markets. K-SURE highlighted its achievements in revising insurance systems to expand support for local banks, thereby enhancing cooperation with developing countries and assisting domestic banks in entering overseas projects.
In the second half of the year, K-SURE plans to broaden its advance financial support to include resource acquisition projects and the Asian infrastructure market. It also aims to strengthen financial cooperation with international organizations such as multilateral development banks (MDBs) and reinsurance to expand the foundation for Korean companies to participate in overseas projects.
Global banking representatives attending the event noted that due to the large scale and long investment recovery periods of overseas projects, it is challenging for private financial institutions to bear the risks alone. They emphasized that K-SURE's insurance and guarantees play a crucial role in supporting financial participation as a public export credit agency (ECA).
Jang Young-jin, president of K-SURE, stated, "As funding is concentrated on a few large projects like AI, emerging countries continue to face difficulties in financing. We will bridge the gap in financial supply and significantly lower the barriers to mid- to long-term financing, providing a solid foothold for our companies to demonstrate their capabilities on the global bidding stage."
* This article has been translated by AI.
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