K-SURE Offers $2 Billion Financing Support to UAE’s ADNOC

(from left) Minister of Trade, Industry and Resources Kim Jung-kwan, K-SURE President Jang Young-jin, ADNOC CFO Khaled Al Zaabi and Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, pose for a photo after K-SURE signed an MOU for business cooperation with Abu Dhabi National Oil Co. during a business roundtable held by South Korea and the United Arab Emirates in Abu Dhabi on Nov. 19.

The Korea Trade Insurance Corp. (K-SURE) said on Dec. 1 it will give financial support worth $2 billion to Abu Dhabi National Oil Co. (ADNOC), the United Arab Emirates’ largest petroleum company.

The financial support is expected to help more Korean companies win energy projects in the Middle East.

The financial support will be provided in return for ADNOC’s efforts to secure project orders for Korean firms and purchase Korean-made materials and equipment, K-SURE said.

K-SURE supports Korean companies’ overseas market entry through financing support in which Korean companies are given greater opportunities to land projects in return for financing support for major foreign procurement entities.

K-SURE’s offer of financial support to ADNOC came after the signing of an MOU by K-SURE and ADNOC on the occasion of President Lee Jae-myung’s state visit to the United Arab Emirates in November.

Under the deal, the two organizations agreed to spur the introduction of Korean-made products and services in projects, being implemented by ADNOC, such as AI, renewable energy, hydrogen and power grid and provide financing support to ADNOC and its subsidiaries.

K-SURE President Jang Young-jin said, “The provision of financial support to ADNOC is an effective tool for leading the awarding of projects to our companies and buying our products. We will explore sound overseas importers wanting to buy Korean products and provide financial support and support Korean companies’ exploring of overseas markets.”

K-SURE Provides $1.7 Billion Financial Support to Verizon to Boost Samsung Smartphones

The Korea Trade Insurance Corporation (K-SURE) said on Dec. 17 that it will offer $1.7 billion in financing support on the condition that Verizon Communications Inc., the largest telecom service provider in the United States, buys communication devices from Samsung Electronics.

The financial support given to Verizon is used only for purchasing communications devices produced by Samsung Electronics, such as smartphones and tablets.

K-SURE has been offering “device financing” support to each country’s major telecom service providers amid a fierce competition among global smartphone makers in return for purchasing Korean companies’ products.

In early 2025, K-SURE provided a $700 million financial support to Bell, Canada’s largest telecom service provider, and the Korean trade insurance entity offered 100 million euros and a 350 million euros in financial support to a Polish telecom service provider in 2021 and a French telecommunications company in 2023, respectively.

K-SURE President Jang said, “K-SURE is increasing financial support to export consumption products, such as communications devices to cope with the deepening of protectionist moves, departing from the conventional strategy of focusing on exporting capital goods, and we will expand financial support to global blue-chip buyers.”

K-SURE to Jointly Provide Bond Guarantees with ADB’s CGIF

The Korea Trade Insurance Corp. (K-SURE) struck an MOU to support Korean companies’ entry into Asian markets with the Credit Guarantee and Investment Facility (CGIF) of the Asian Development Bank (ADB) on Dec. 11.

CGIF is an international body, established with investments by 10 ASEAN countries, with the goal of developing the Asian bond market.

The organization helps companies raise funds by guaranteeing corporate bonds issued by member countries.

Under the agreement, K-SURE and CGIF jointly give guarantees and support when Korean companies issue mid- and long-term funds, such as corporate bonds, while entering local markets.

The deal is expected to reduce local funding costs, and both sides plan to build a mutual network for the development of Asian financial market.

K-SURE said, “It is an agreement to help Korean companies diversify our companies’ funding channels and support Korean banks’ entry to the Asian financial market, and it is predicted to contribute to expanding productive financing, such as creating of new overseas profits.”

K-SURE President Jang said, “The Asian market is a strategic financing and investment center with a huge population and growth potential and a market in which continuous efforts to expand exports are required to be made on top of creation of investment outcomes, and K-SURE will build a support system so that Korean companies and banks can aggressively participate in new markets in the future.”