Bank of Korea moves to DIFC

South Korea’s state-run Export-Import Bank of Korea has opened a Middle East representative office at Dubai International Financial Centre (DIFC).

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By  Richard Agnew Published  May 12, 2005

South Korea’s state-run Export-Import Bank of Korea has opened a Middle East representative office at Dubai International Financial Centre (DIFC). The bank, South Korea’s official export credit agency, said it would support South Korean businesses in the Middle East. It has extended US$1.8 billion to finance transactions between the UAE and Korea in recent years, including a power and water station in Fujairah. The bank is the first Asian bank to join DIFC, which has licenced more than 10 international institutions since its launch last year, including Merrill Lynch, Credit Suisse and Standard Chartered.

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