Export-Import Bank of Korea Chairman and CEO Hwang Ki-yeon, left, and Petrovietnam Chairman Le Ngoc Son, right, pose after signing a four-way memorandum of understanding on cooperation for nuclear power project financing in Vietnam at the presidential palace in Hanoi, Wednesday, in the presence of President Lee Jae Myung and Vietnam's top leader To Lam. Yonhap
The Export-Import Bank of Korea (Korea Eximbank) is stepping forward as a key financial backer to support Vietnam’s energy transition and help accelerate the global expansion of Korea’s nuclear power industry, the bank said Thursday.
The state-run lender signed a four-way memorandum of understanding (MOU) in Hanoi with the Korea Trade Insurance Corp., Korea Electric Power Corp. and Vietnam National Industry-Energy Group (PVN) to strengthen cooperation on financing nuclear power projects in the Southeast Asian nation.
PVN, also known as Petrovietnam, is Vietnam’s state-owned energy conglomerate, overseeing projects spanning oil and gas, renewable energy and nuclear power.
The agreement comes eight months after the two countries reaffirmed their commitment to nuclear cooperation at a bilateral summit in August 2025, held during Vietnamese leader To Lam’s state visit to Korea.
The signing ceremony was attended by Hwang Ki-yeon, chairman and CEO of Korea Eximbank, and Le Ngoc Son, chairman of PVN, in the presence of President Lee Jae Myung and Lam.
Under the agreement, the parties will explore financing options for new nuclear power projects in Vietnam, support the development of financial models to ensure project viability and establish a working-level consultative body.
Korea Eximbank has been providing steady support to Vietnam across sectors such as energy and infrastructure. In particular, it has built a strong partnership with PVN through joint projects in power generation and refining.
“This MOU marks an important starting point for extending our financial expertise into Vietnam’s nuclear sector,” Hwang said. “We will continue to strengthen our role as a reliable partner to help Korean companies establish a leading presence in the Southeast Asian nation’s nuclear power market.”
“Backed by the proven technological capabilities of Korean firms and Korea Eximbank’s commitment to financing, this partnership will serve as a powerful driver of Vietnam’s energy transition and economic growth,” PVN’s Le said.
Source: Korea Times News
