Former Vice Minister Moon Jae-do of the Trade, Industry and Energy, has been appointed to head the Korea Trade Insurance Corp. as president and CEO on March 2.
“With the signs of spring in the air, it is my pleasure to offer my greetings to you as the 10th president of K-sure inaugurated as of March 2, 2017,” President Moon said in a statement. “The year 2017 is meaningful for K-sure as it marks the 25th year since its foundation as a financial policy institution dedicated to provision of trade insurance. For the past two and a half decades, K-sure has been successfully spearheading the growth and development of Korean trade and export, and as a new leader of this proud institution, it is a tremendous honor and responsibility to take the chair of this agency which has been pivotal to the Korean trade and export.”
Moon continued: “Today, we see the rise of trade protectionism and conflict over currency exchange rates across the global economic landscape. And such an externality is posing daunting challenges to Korean trade and exporters. As the new president, I will spare no effort in promoting and safeguarding the Korean trade export and oversea investment, and do my utmost to cement K-sure’s status as a world class ECA, thereby continuing its proud history and keeping the trust and confidence entrusted by the Korean public.”
Moon, a veteran of about 35 years with the government, spent most of his career dealing with international trade and the exploration of natural resources overseas. He has a diverse background, including Visiting Professor, Department of Industrial Engineering, Seoul National University; Second Vice Minister of Trade, Industry and Energy; Secretary to the President for Trade, Industry and Energy; Deputy Minister for Industry and Resource Cooperation, Ministry of Knowledge Economy; Director General, Resource Development and Nuclear Power Policy, Ministry of Knowledge and Economy; and Director, Bureau of Industry, Ministry of Knowledge and Economy.
Korea Trade Insurance Corporation (K-sure) recently announced that it signed MOUs with KazExportGarant JSC (KEG) and the Development Bank of Kazakhstan (DBK) on Nov. 10 at Lotte Hotel in Seoul.
The signing of the MOUs with KEG and DBK aim to support exports and investment of Korean companies’ entering into emerging markets such as Kazakhstan. The event was held as a part of the Korea-Kazakhstan Business Forum arranged on the sidelines of Kazakhstan President’s visit to Korea.
By forming a closed network with the two Kazakhstan policy financing institutions, K-sure plans to increase its financing capacity for Korean companies while enhancing their bid-wining competitiveness through information sharing on new projects and business opportunities in the region.
Lim Yang-hyun, Executive Director of K-sure, said that “K-sure expects that the MOUs with the Kazakhstan ECA and development bank would help Korean companies win more contracts in emerging markets including Kazakhstan.
“Korean companies need our strong trade insurance support to win in a fierce global competition over emerging markets, and K-sure is ready to provide active support to Korean companies for them to gain bigger shares in those markets.”
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A view of the building in Seoul where K-sure is located.(Photos: K-sure)
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