The MOU will help support and finance the significant trade flows of capital and goods between the two countries, and underscore the importance of the UAE as a trade partner for Korea and Korean companies.

The KEXIM is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises conducting overseas business. Since its establishment in 1976, the bank has actively supported Korea’s export-led economy and facilitated economic cooperation with foreign countries.

This definitive partnership represents an alliance between two strong providers and demonstrates ADCB’s commitment to the UAE and Korean markets.

KEXIM is committed to strengthening partnerships with ADCB to provide greater financing to Korean exporters and investors in the UAE.

Commenting on the agreement, Ala’a Eraiqat, CEO and board member of ADCB, said: “This partnership with KEXIM marks only the beginning of our partnership together. ADCB is delighted with this collaboration and is looking forward to providing comprehensive financing support to both UAE and Korean companies who trade between our two countries. Korean firms have played a major role in the build of the UAE economy, benefiting both countries considerably. ADCB is committed to the development of the Abu Dhabi economy and the UAE overall. Through this initiative, we want to play an even greater role in bringing together domestic and international companies.”

The MOU will enable clients of both banks to benefit from two very strong financially liquid banks with large balance sheets who have invested heavily in their trade business. Each bank has deep expertise and knowledge in trade finance and is highly connected in its market and is well recognized by both corporate and government communities.

Ki Sub Nam, Executive Director ( and a member of the Board of Directors) of KEXIM said: “I am very pleased to sign this MOU during our visit to the three major countries (the UAE, Saudi Arabia and Egypt) of the MENA region. With banks in the Middle East emerging as important sources of financing for large-scale infrastructure projects, we recognize that there is an increasing need for stronger collaboration with financial institutions in the region. In this regards, I am confident that the MOU signed today will open a new frontier for future collaboration and accelerate cooperation between KEXIM and ADCB. We hope to explore new areas of cooperation, including co-financing and information exchange, in the years to come.”

Colin Fraser, group head wholesale banking for ADCB, added: “This is an exciting alliance which will help companies in both countries trade together through the provision of combined expertise, financial strength and connectivity in the market. ADCB and KEXIM are uniquely well placed to support trade and investment between the UAE and Korea. ADCB has invested heavily in its capabilities in trade finance and corporate banking and is keen to help international companies grow in the UAE market. We greatly look forward to working with KEXIM to support major projects and trade business for our respective clients.”