Kexim to diversify $12bn funding needs in 2014

The Korean government-owned export credit agency said it would continue to support local currency markets next year, supported by the requirement for funding diversification and lower cost of capital.
Kexim, which is rated on par with the Korean sovereign, has adequate support from the government.
Kexim, which is rated on par with the Korean sovereign, has adequate support from the government.

The Export-Import Bank of Korea Kexim is constantly looking at different markets and currencies for funding purposes, Hee-Sung Yoon, director general of international finance department at Kexim, said on Wednesday.

Yoon, speaking at FinanceAsia’s annual Borrowers Investors Forum, Southeast Asia, in Singapore, said the proportion of non-dollar funding has been quite substantial over the past few years and plans to continue its strategic diversification into other local currencies.

“We try to look at pockets of opportunities for local currency funding and I must say that we have been quite successful in our ventures so far,” said Yoon. “The most resilient dollar funding can sometimes shut...

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