Trade Insurance Corporation, financial support for SeAH Steel’s participation in the British offshore wind power project

[이데일리 김형욱 기자] The Korea Trade Insurance Corporation (Mubo K-SURE) has begun providing financial support for the Korean steelmaker SeAH Steel (306200) to participate in the British offshore wind power structure plant construction project.

On the 28th, Moobo joined hands with the UK Export Finance Agency (UKEF) to provide financial support of 135 million pounds (approx. said that it was done with

(From left) Lee In-ho, CEO of Korea Trade Insurance Corporation, met with UK Export Finance Agency (UKEF) President Tim Reid in Seoul on the 28th to finalize a plan for joint financial support for the construction project of a local offshore wind power structure production plant in the UK. They are discussing ways to expand cooperation in the power generation and defense industries. (Photo = Mubo)

The UK is a leading country in offshore wind power generation, generating regarding 40% of its total electricity production from offshore wind farms. The UK is currently promoting a project to build a factory capable of producing 208 large monopiles per year on a 360,000㎡ (regarding 110,000 pyeong) site in the Teesworks industrial complex in the northeastern part of England, and Seah Steel also participates in the project as a steel supplier. President Lee In-ho met with UKEF President Tim Reed in Seoul on the same day to discuss new and renewable energy development projects as well as financial cooperation plans for joint promotion of the nuclear power generation (nuclear power plant) industry. The UK is promoting a plan to build a new nuclear power plant by hand to replace the aging nuclear power plant, and Korean nuclear power companies including Korea Electric Power Corporation (015760) are seeking participation in the project. The UK is the world’s first nuclear power plant, but it has lost its ability to build nuclear power plants by maintaining a long-term de-nuclear power plant along with the aging of existing nuclear power plants.

Moobo and UKEF, as export credit agencies representing both countries, have maintained a close relationship since signing a business agreement in 2019. In particular, UKEF recently appointed a Korean-specific export finance expert to the British Embassy in Korea, seeking to expand cooperation in the export finance sector between the two countries.

Lee In-ho, CEO of Mubo, said, “The UK is highly interested in cooperation with Korea in the nuclear and defense industries as well as new and renewable energy.” · I will try to return the opportunity to win orders,” he said.