State insurer signs MOU with Italian export credit agency

The Korea Export Insurance Corporation and the Italian Export Credit Agency (SACE) have signed a memorandum of understanding that will boost information exchange and strengthen cooperation in export insurance and security, Korean officials said yesterday.

The KEIC said the agreement signed in Rome, Italy, on Feb. 16 will also allow Korean and Italian companies to cooperate in projects based in a third country.

"This latest agreement will not only allow both countries to exchange information on export-related contracts, but also allow our export companies to jointly bid for overseas project orders with Italian companies," Kim Song-woong, chairman and president of the KEIC, said.

Kim and Iganazio Angeloni, the chairman of SACE, took part in the signing ceremony.

The SACE is a state-run agency and takes on about 7.6 billion euros ($10 billion) worth of export insurance each year.

The KEIC supports not only large companies but also small- and medium-sized enterprises with various kinds of insurance programs to hedge against risks.

(sohjung@heraldm.com)



By Yoo Soh-jung