Participants attend a session at the meeting hosted by the Export-Import Bank of Korea (Eximbank) to share achievements in feasibility studies of development projects overseas, at the Eximbank headquarters in Yeouido, Seoul, Wednesday. Courtesy of Eximbank

The Export-Import Bank of Korea (Eximbank) helped Korean companies win 28 projects worth $32 billion in 10 countries including Vietnam, Indonesia and Australia through its support in business feasibility studies since 2020.

Operated under the Ministry of Economy and Finance, the state-run lender gave a briefing on its achievements regarding feasibility studies during a meeting at its Yeouido headquarters in Seoul on Wednesday.

Eximbank's support of feasibility studies comes as a part of the Knowledge Sharing Program managed by the finance ministry.

The meeting was attended by more than 40 executives and rank-and-file employees from 18 companies taking part directly or indirectly in overseas projects.

The companies ranged from engineering to accounting and law firms.

Since 2020, Eximbank has been supporting businesses with funding for feasibility studies when they are engaged in overseas development projects.

"Driven by Eximbank's support, the companies had a higher chance to succeed when going abroad as they conducted feasibility studies regarding technological, finance and legal issues from the early stages of the project," the bank said.

"We'll spare no efforts to resolve any difficulty the businesses may go through when launching projects outside Korea."

The meeting included presentations and Q&A sessions in relation to Eximbank-backed projects to share know-how and achievements so far.

Among the projects were a railroad network project in Vietnam and road construction in Bangladesh.

They also shared ideas to minimize obstacles in the future for more efficient feasibility studies.

"We will continue efforts to increase the chances of success for Korean companies in their business overseas and resolve the difficulties that companies face in the field. We will be priming water for their pump," an Eximbank executive, Hwang Ki-yeon, said.