[By NBC-1TV H. J Yook]Citibank Korea Inc. (CKI, CEO Yung-Ku Ha, www.citibank.co.kr) and Korea Trade-Investment Promotion Agency (KOTRA, President Young-Ho Oh, www.kotra.or.kr) have announced that CKI and KOTRA sign the Memorandum of Understanding (MOU) on the bilateral cooperation for the high potential middle market enterprises operating the overseas business at the HQ of KOTRA in Seoul on Aug. 29, 2012 (Wed.). CKI and KOTRA will cooperate closely by utilizing their global network in order to provide services for the middle market companies operating the global business.

The MOU conclusion between CKI and KOTRA has been proceeded with as the follow-up measure of the government’s Comprehensive Plans for High Potential Enterprises dated Aug. 9 after the launch of the High Potential Enterprise Bureau at the Ministry of Knowledge Economy in May 2012. KOTRA has operated the World Champ services aimed at supporting the overseas marketing of the middle market companies. Bilateral cooperation between KOTRA and CKI lays the foundation to provide the overseas financial services to the middle market enterprises that plan to enter the overseas market and the World Champ companies, as the enterprises have had difficulties in using efficient financial services at the overseas markets.

Based on the MOU with KOTRA, CKI plans to provide and expand its global financial services for the high potential enterprises by utilizing the global network. For example, when a Korean company plans to establish an overseas subsidiary and receive a loan overseas, overseas Citibank can avail the loan to the overseas entity.

KOTRA (President Young-Ho Oh) said, “We are concentrating all the capabilities for the growth of the global middle market companies via overseas marketing, investment in the overseas market and attraction of investment, etc. If necessary, we will play the role as the coordinator that provides the comprehensive one-stop services in the globalization of high potential enterprises by expanding the overseas and local networks continuously.”