Granting of authorization to KEXIM ASIA LIMITED as a deposit-taking company

The Hong Kong Monetary Authority announced today (14 June 2004) that the Monetary Authority has authorized KEXIM ASIA LIMITED ("KEXIM ASIA") as a deposit-taking company under the Banking Ordinance.

KEXIM ASIA is wholly owned by The Export-Import Bank of Korea, which has maintained a local representative office in Hong Kong since May 2002.

After the granting of the authorization to KEXIM ASIA, the number of deposit-taking companies in Hong Kong has increased to 37.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Kevin Ip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
14 June 2004