Bank of Hope, led by CEO Kevin Kim, has signed a strategic memorandum of understanding (MOU) with the Construction Guarantee Cooperative, headed by Chairman Lee Seok-yong, to support the global business expansion of Korean construction enterprises.
The two organizations held the strategic partnership ceremony on November 4 at the Bank of Hope headquarters in Los Angeles to provide financial support for Korean EPC (Engineering, Procurement, and Construction) companies pursuing international projects.
Global Financial Support for Korean EPC Companies
This partnership was established to ensure smooth capital procurement and strengthen the global competitiveness of Korean construction companies participating in overseas infrastructure and plant projects.
Both institutions plan to expand financial solutions and guarantee supports necessary for overseas business operations, actively assisting Korean firms in their global market penetration.
Leveraging Local Networks and Guarantee Expertise
The Construction Guarantee Cooperative will leverage its extensive experience in overseas projects and guarantee expertise to support companies in executing their projects successfully. Meanwhile, Bank of Hope will utilize its financial network and corporate banking capabilities within the United States to deliver a diverse range of financial services.
Attendees at the signing ceremony included CEO Kevin Kim, President Peter Go, Chief Credit Officer (CCO) Karen Kapoor, and Senior Vice Presidents Kyu-sung Kim and Daniel Kim from Bank of Hope. Representatives from the Construction Guarantee Cooperative included Chairman Lee Seok-yong, Director Jeong Seok-won, and Team Leader Cho Sung-hyun.
