Eximbank helps multiracial families, NK defectors

Export-Import Bank of Korea (Eximbank) Deputy President Kang Seung-joong, front row third from right, poses with Community Chest of Korea Secretary General Kim Yeon-soon, front row fourth from right, after donating eight vehicles worth 160 million won ($136,856) to eight charities for multiracial families in this Sept. 9 file photo. / Courtesy of Eximbank

The Export-Import Bank of Korea (Eximbank) has made efforts to support multiracial families and North Korean defectors here to fulfill its corporate social responsibility (CSR), according to the state-run financial institution, Wednesday.

Since naming its social contribution the “Hope Seed Program” in 2012, the bank has carried out various CSR activities, including leading global contribution projects.

In particular, it has focused on supporting multiracial families and North Korean defectors here, who have been mentioned as the “new types of vulnerable social groups” in a globalized Korean society.

To give continuous support, Eximbank has set up sisterhood relationships with relevant charities, and its executives and employees have participated in volunteer work and made donations.

As a state-run bank managing the Economic Development Cooperation Fund (EDCF) and the Inter-Korean Cooperation Fund, Eximbank has helped the new members of our society adapt.

For multiracial families, Eximbank has sponsored charities nationwide and education programs for children with a parent from another country.

For North Korean defectors, it has sponsored alternative schools for the defectors and their children.

“Through customized education for multiracial families and North Korean defectors, we help them adapt to society,” an Eximbank official said.

Eximbank also has engaged in global CSR activities, utilizing its role as a bank specializing in foreign trade.

“With our global CSR activities for vulnerable social groups in low-income countries, we have distinguished ourselves as a state-run lender supporting foreign trade,” the official said.

In Cambodia, Eximbank has built wells, toilets and health clinics in remote and rural villages to improve the quality of life, and assisted in the construction of there.

It also signed a memorandum of understanding (MOU) with the Asian University for Women in Bangladesh to provide three university students annually with internship opportunities in the bank's EDCF division.

Eximbank, founded in 1976, has contributed to the development of Korea's economy and enhanced economic cooperation with other countries through the provision of financial support for export and import transactions, overseas investment projects and the development of overseas natural resources.

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