The South Korean National Assembly’s Planning and Finance Committee approved on Friday an amendment to increase the Export-Import Bank of Korea’s (Korea Eximbank) legal capital limit from $11.3 billion (15 trillion won) to $18.8 billion (25 trillion won). This move aims to bolster the country’s defense industry by alleviating financial constraints on exporting companies, especially securing large-scale defense contracts.

Additionally, the committee passed a state guarantee for Supply Chain Stabilization Fund Bonds, set to be issued by Korea Eximbank, with an issuance limit of $3.8 billion (5 trillion won). These measures are intended to strengthen economic security and