Korea Export-Import Bank is providing support for Korean companies affected by conflict in the Middle East, including financial assistance and a dedicated response desk at its headquarters.
The state-run lender said Tuesday it will activate a risk response program providing up to 40 trillion won ($27.3 billion) in emergency liquidity for companies affected by the US and Israel-Iran war
The decision was made at a meeting Monday, where officials reviewed potential shock scenarios for the real economy. These included logistical disruptions and surging energy prices from a possible blockade in the Strait of Hormuz, as well as heightened market volatility.
The financial support will be supplied over the next five years, including 7 trillion won set for disbursement this year. The program includes lower-rate loans for small and midsize enterprises.
Eximbank is also reviewing supply chain stabilization measures, including financing for crude purchases if energy supply disruptions emerge.
The bank will also strengthen foreign currency liquidity management. If demand for foreign currency surges, the policy lender plans to mobilize available tools, including mid- to long-term private placements and short-term commercial paper, to supply liquidity.
Alongside the financial measures, the lender has set up a dedicated Middle East response desk at its Seoul headquarters to closely monitor developments in the region and surrounding countries.
jwc@heraldcorp.com
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