Bank Gospodarstwa Krajowego (BGK), the Export-Import Bank of Korea (KEXIM), and the Korea Trade Insurance Corporation (K-SURE) have signed a trilateral Memorandum of Understanding (MoU) in Warsaw. The document commits to strategic cooperation and the joint exploration of business opportunities in areas such as infrastructure, industrial development, and renewable energy.

Poland's development bank, BGK, has signed a memorandum with two South Korean government financial institutions. The Export-Import Bank of Korea is a bank that provides export credits and guarantee products to South Korean entrepreneurs, facilitating their foreign business activities. In turn, the Korea Trade Insurance Corporation offers insurance products that contribute to the promotion of South Korean exports and facilitate international trade more broadly. The parties to the agreement commit to close cooperation, which will result in the discovery of new business opportunities in sectors such as infrastructure, industrial development, and renewable energy. The agreement also aims to promote economic cooperation, including foreign investment and trade exchange. BGK, KEXIM, and K-SURE also intend to jointly seek opportunities for financial support for export projects, involving both South Korean and Polish companies. According to the parties to the agreement, this will strengthen business relations between the two countries. The document also addresses the co-financing of projects that will benefit Poland and neighboring countries, including reconstruction and modernization projects after the war in Ukraine.

"The signing of the MoU is confirmation that we are committed to long-term and fruitful cooperation with our South Korean partners. I am convinced that projects co-financed by our institutions will strengthen economic relations between Poland and South Korea. They will also contribute to the faster international development of companies from both countries. I believe that our cooperation will also have a positive impact on the development of Central and Eastern Europe, including the Three Seas region. In this way, as a Polish development bank, we are fulfilling our mission of increasing the competitiveness of the Polish economy and internationalizing Polish companies," said Beata Daszyńska-Muzyczka, President of the Management Board of BGK.

South Korea is the second-largest non-European foreign investor in Poland, after the USA. In 2022, Polish-Korean trade turnover reached a record value of 10 billion dollars. PARTNER TEXT