Trade and Structured Financing of Ukrainian-Korean Trade Projects Is Becoming More Affordable

IBcontacts company and Korean export credit agency «K-sure» signed an agreement about extending the cooperation in credit-information field
 
 
July 7, 2011 - PRLog -- IBcontacts company, specialized in international trade development by organizing export and project financing for Ukrainian companies, and Korean export credit agency (ECA) «K-sure» signed an agreement about extending the cooperation in credit-information field. This will lead to more qualified and detailed revision of Ukrainian companies-borrowers that attract trade and project financing from Republic of Korea.  

K-sure was established by the Korean government with a view of Korean exporters’ risks coverage. Projects involving this ECA to a great extent facilitate the work of Ukrainian companies that, being the buyers of Korean products, can obtain insurance coverage from the Korean ECA. The Korean Export Credit Insurance Corporation itself frankly states the plans to increase insurance coverage volumes for Ukrainian customers as well as for buyers from the CIS region.

“The total amount of our liabilities for commercial contracts with Ukrainian companies by the end of 2010 totaled 125 million dollars, while the lion's share thereof is covering risks for short-term transactions",- commented the representative of K-sure to IBobserver, the newspaper of IBcontacts company specialized in the international trade development. - In Russia, our liabilities in the same 2010 year amounted to 1.676 billion dollars, 75% of which were for short-term transactions, and the rest - for the medium and long-term projects. At the same time, we pay an average of 50 million dollars annually due to the insured risk from the Russian importers”.

Therefore, the agreement between IBcontacts and Korean ECA opens new opportunities of import operations financing for Ukrainian importers. This will allow to renew production capacities, purchase bigger volumes of finished goods and finance investment projects. Moreover, signing the agreement between the two companies will facilitate the development of export-import relations between Ukraine and the  Republic of Korea.

IBcontacts company is specialized in international trade development between Ukrainian companies and their foreign partners with the participation of export credit agencies, foreign banks and governmental agencies. The company operates in project and structured finance, credit insurance, financial analysis, due diligence, market research, implementing various projects in Ukraine and abroad (ibcontacts.com.ua).

For more information, please address the Head of IBcontacts Communications Department Iryna Vasylenko via phone +38 044 359 02 00 or e-mail pr@ibcontacts.com.ua
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Tags:Ukraine, Korea, Import, Export, Export Credit Agency, Risk Insurance, Risk Coverage, Financing, Commercial Projects
Industry:Business
Location:Kyiv - Kyiv - Ukraine
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