Interest Rate Risk Insurance -K-sure,

This product covers financial institutions that are covered
under K-sure’s medium and long-term export insurance
(buyer credit) and have extended or will be extending export
financing for those transactions with a payment period
exceeding two years.

Korean companies enter competitive international biddings to secure orders for medium and long-term export transactions
including the engineering, construction and procurement sectors involving petrochemical and power generation facilities.

The OECD has set a minimum interest rate scheme called CIRRs (commercial interest reference rates) to prevent
over-competition during this bidding process. The problem is that clients prefer these fixed CIRRs over floating rates often
extended by commercial banks, but there is limited number of banks that can extend export financing on a CIRRs basis.

This product is designed to resolve differences in interests among financial contract parties and allows businesses an easy
access to export financing. Under this product, K-sure indemnifies those financial institutions for losses and redeem returns
resulting from fluctuating interest rates.

• - Transactions covered (or expected to be covered by) Medium and Long-Term Export Insurance (Buyer Credit)
• - Applicable to Buyer Credit