Riyadh, Saudi Arabia—The Saudi Export-Import Bank signed an MoU with the Korean Commercial Insurance Company (K-SURE), which is Korea’s export credit agency, to enhance import and export activities between the two countries.
The activities include the export of environmentally friendly energy sources produced in Saudi Arabia, such as green hydrogen and green ammonia.
Under the terms of the memorandum of understanding, the two parties will share experiences and knowledge, cooperate to provide financing solutions, discuss mutually beneficial investments, and other services in both countries.
The memorandum aims to support the bank in promoting the development and diversification of Saudi exports to the South Korea, by providing export financing, guarantee and export credit insurance services, and enhancing confidence in Saudi exports and their entry into the Korean market.