DBS and Korea’s Trade Insurance Corporate sign MOU to help South Korean enterprises finance projects in Asia to support the region’s infrastructural development needs
SINGAPORE,15 April 2019 -
DBS Group Holdings and Korean government agency, Korean Trade Insurance Corporation (K-Sure), today signed a Memorandum of Understanding (MOU) to foster greater collaboration and support for South Korean companies spreading their wings outside their home market. These Korean companies commit to the development of Asia by lending their experience and expertise to develop large infrastructure-related projects within the region.
According to the MOU, financial services and solutions will be provided to support South Korean enterprises’ overseas business and investment activities, as well as their export transactions related to Asia and beyond.
In the last five years, DBS and K-Sure have completed six project financing deals together. The projects support the energy and industrial infrastructural needs of Asia’s rapid economic transformation.
DBS CEO Piyush Gupta said, “It is our firm belief that DBS has a role to play in addressing the developmental needs of Asia. We are well-placed to do this given our ability to connect clients across Asia. With this MOU, we will strengthen our cooperation with K-Sure, and find ways to further connect our Korean clients with investment opportunities in the region.”
K-Sure CEO Mr. Lee In Ho said, “K-Sure will continue to closely cooperate with top prominent financial institutions to support Korean companies expanding throughout Asia.”
K-Sure is an official export credit agency under the Ministry of Trade, Industry and Energy of Korea. K-Sure supports Korean trade and exports, while promoting Korean companies’ overseas investments, with the aim of enhancing the national competitiveness of Korea. The agency provides insurance services to cover risks from international trade such as export and import of products, capital goods, cultural products and services, contracts on overseas project, and foreign currency exchange.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “Global Bank of the Year
” by The Banker and “Best Bank in the World
” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank
” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia
” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com