DBK and financial institutions of the Republic of Korea join forces to implement joint projects

Development Bank of Kazakhstan JSC (a subsidiary of the «Baiterek» holding) has signed memoranda of understanding with the Export-Import Bank of Korea and the Korea Trade Insurance Corporation (K-Sure). The signing of the documents took place on the sidelines of the Kazakhstan-Korea business forum, held during the state visit of the President of the Republic of Korea, Yoon Suk Yeol, to Kazakhstan.

The memoranda were signed by the Chairman of the Management Board of DBK, Marat Yelibayev, the head of the Export-Import Bank of Korea, Hee-Sung Yoon, and the head of the Korea Trade Insurance Corporation, Yeonjin Chang.


«These documents open new opportunities for business cooperation between Kazakhstan and South Korea, promoting the development of strategically important projects and strengthening economic ties between our countries. The Development Bank of Kazakhstan aims to use these opportunities to implement innovative initiatives and enhance Kazakhstan's investment attractiveness. We are confident that our partnership with the Export-Import Bank of Korea and K-Sure will bring significant benefits to both countries, fostering sustainable economic growth and mutually beneficial development in priority economic sectors», noted Marat Yelibayev, head of DBK.

The document signed with the Export-Import Bank of Korea provides for the opening of an interbank credit line worth up to USD 50 million, which will be directed towards financing strategically important projects in sectors such as energy, petrochemicals, manufacturing, infrastructure and transport, ecology and the environment, alternative energy, metallurgy and mining, and other economic sectors.

The memorandum with K-Sure will focus on strengthening cooperation on transaction insurance between financial institutions of Kazakhstan and South Korea in key manufacturing development sectors.


Additionally, the document provides for the exchange of information on current and potential projects and business opportunities, support for cooperation initiatives between Kazakhstani and Korean companies, the development of contacts between them, the provision of insurance instruments for export and import, as well as experience exchange.

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