The Korea Trade Insurance Corporation (K-sure) has signed co-operation agreements with export credit agencies in Kazakhstan and Uzbekistan as part of a new drive to support the entry of South Korean companies into Central Asia.
On April 19 during a visit by South Korean President Moon Jae-in to Uzbekistan, K-sure inked a deal with Uzbekinvest, which will include financial support for exports, overseas project co-operation, and information exchanges. According to K-sure, the agreement opens up broad opportunities for co-operation in providing insurance protection to exporters from both countries, including exports to third countries.
Last year, Korean-Uzbek trade volumes reached their highest-ever level, of US$2.1bn. At the signing of the agreement, President Moon highlighted that Seoul sees Uzbekistan as an important partner as it aims at enhancing trade and investment ties with the Central Asian region.
Meanwhile, on April 22, K-sure signed a similar co-operation agreement with Kazakh Export, the export credit agency of Kazakhstan, in Nur-Sultan. In a statement, K-sure said: “We will do our best to ensure that financial co-operation with representative export credit agencies in Central Asia will lead to the winning of projects by our corporations.”