Korea Trade Insurance Corp. (K-SURE) announced on Nov. 18 that it has signed a business agreement with the Spanish Export Credit Agency (CESCE).
The agreement is intended to enhance the global industrial competitiveness of both countries and contribute to the advancement of Korean companies into overseas markets. The two sides signed the agreement on the occasion of the Spanish prime minister’s visit to Korea.
The two sides agreed to cooperate in promoting exports and expanding investment by jointly discovering business opportunities for strategic industries such as semiconductors, AI, and renewable energy, and participating in projects in third countries.
The main content of the agreement are cooperation in discovering key industrial projects, exchanges of trade insurance-related financial information and political/economic information, cooperation in financial support for projects in third countries in which companies of the two countries participate, such as Latin America and the Middle East, and the promotion of the revision of reinsurance agreements between the two institutions.
“It is meaningful to establish a solid foundation for cooperation with CESCE,” said Lee In-ho, CEO of K-SURE. “We will do everything in our power to make meaningful progress in strengthening the competitiveness of Korea’s core industries and Korean companies’ global advancements. We will cooperate with CESCE in responding to rapid changes in international trade environments, such as changes in the global supply chain.”
