By Diplomacy Journal Lee Kap-soo
Canada’s export credit agency, announced on July 3 the signing of a Memorandum of Understanding (MOU) to advance export trade and investments between Canada and the Republic of Korea.
The MOU will foster deeper trade collaboration between both countries, creating new and expanded opportunities for Canadian businesses and investors seeking to grow and succeed in Korea as well as investments in Canada.
With a focus on two of EDC’s priority sectors, clean technology and advanced manufacturing, this mutually-beneficial partnership will support businesses focused on hydrogen, carbon capture and storage, critical minerals, electrical vehicle batteries, offshore wind, and more.
Through the MOU, EDC brings financing and structuring expertise, as well as deep relationships with Canadian clean technology and advanced manufacturing exporters and investors that can support Korea’s current and future economy.
SK Group will support and develop Canada’s ability to respond to international business opportunities through new connections to its subsidiaries and affiliates and collaborate with EDC, our customers and partners to build our knowledge and provide information and facilitation to strategic networks and partners to assist Canadian exporters and investors in market entry.
“This exciting new partnership with SK Group will further deepen Canada and Korea’s two-way trade, particularly in areas that support both countries’ commitment to build economically resilient, innovative and sustainable nations,” said Todd Winterhalt, Senior Vice-President, International Markets and Head of Communications and Public Affairs.
“Working with a recognized market leader like SK Group, EDC can help grow Canadian trade opportunities in Korea by increasing our market knowledge, building networks and enhancing supply chains between our countries. With Korea’s ambitious net zero goals, including its commitment to the Korea Green New Deal, Canadian technology, innovation and capital can all play an important role.”
