DBS' newest strategic alliance revealed

DBS will now work with Export Import Bank of Korea in infrastructure and project financing.

According to a release, DBS Bank and the Export Import Bank of Korea (KEXIM) signed a Memorandum of Understanding (MOU) to deepen cooperation in infrastructure and project financing.

The strategic alliance will see DBS and KEXIM exchange information, cooperate on infrastructure projects and second staff to one another. Through the MOU, DBS will work more closely with KEXIM and be better equipped to serve its Korean customers who are keen to do business in Asia, and its Asian customers who purchase goods from and partner with Korean companies.

Said Lim Wee Seng, Head of Project Finance for DBS, “We have increasingly seen Korean companies investing in and exporting to markets in Asia. In the area of infrastructure development in Asia, in particular, a significant number of Korean companies are involved as engineering, procurement and construction contractors, equipment suppliers as well as asset developers. In many of these opportunities, KEXIM’s strong support and deep involvement have been crucial in ensuring the successful funding and implementation of these projects.”

“Through this MOU, the collaboration with KEXIM will further enhance DBS’ ability to support our Korean and Asian clients in developing these opportunities, given our franchise and leadership position in many of these key Asian markets.”

Said KEXIM’s Senior Executive Director Ki-Sub Nam, “With the MOU with DBS, a leading bank in Asia, we expect to have greater opportunities to provide co-financing for project finance transactions as co-arrangers and co-advisors. I hope our two institutions will continue to explore new horizons for cooperation in various areas and further strengthen relationships.”