Obligation Korea Trade Bank 4% ( US302154BK41 ) en USD

Korea Trade Bank

100 % ▲

Coree du Sud

US302154BK41 ( en USD )

4% par an ( paiement semestriel )

13/01/2024 - Obligation échue

Prospectus brochure de l'obligation The Export-Import Bank of Korea US302154BK41 en USD 4%, échue

200 000 USD

750 000 000 USD

302154BK4

AA ( Haute qualité )

Aa2 ( Haute qualité )

La Korea Export-Import Bank (KEXIM) est une banque publique sud-coréenne qui fournit un financement et une assurance-crédit aux entreprises coréennes engagées dans le commerce international.

L'Obligation émise par Korea Trade Bank ( Coree du Sud ) , en USD, avec le code ISIN US302154BK41, paye un coupon de 4% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 13/01/2024

L'Obligation émise par Korea Trade Bank ( Coree du Sud ) , en USD, avec le code ISIN US302154BK41, a été notée Aa2 ( Haute qualité ) par l'agence de notation Moody's.

L'Obligation émise par Korea Trade Bank ( Coree du Sud ) , en USD, avec le code ISIN US302154BK41, a été notée AA ( Haute qualité ) par l'agence de notation Standard & Poor's ( S&P ).

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Table of Contents
Filed pursuant to Rule 424(b)(2)
Registration Statement No. 333-180273

PROSPECTUS SUPPLEMENT
(To Prospectus Dated July 11, 2013)

(A statutory juridical entity established under The Export-Import Bank of Korea Act of 1969, as amended, in the Republic of Korea)
US$750,000,000 Floating Rate Notes due 2017
US$750,000,000 4.00% Notes due 2024
Our US$750,000,000 aggregate principal amount of floating rate notes due 2017 (the "Floating Rate Notes") will bear interest at
a rate equal to Three-Month USD LIBOR (as defined herein) plus 0.75% per annum, payable quarterly in arrears on January 14,
April 14, July 14 and October 14 of each year. The first interest payment on the Floating Rate Notes will be made on April 14, 2014
in respect of the period from (and including) January 14, 2014 to (but excluding) April 14, 2014. The Floating Rate Notes will mature
on January 14, 2017.
Our US$750,000,000 aggregate principal amount of 4.00% notes due 2024 (the "Fixed Rate Notes", and together with the
Floating Rate Notes, the "Notes") will bear interest at a rate of 4.00% per annum. Interest on the Fixed Rate Notes is payable
semi-annually in arrears on January 14 and July 14 of each year. The first interest payment on the Fixed Rate Notes will be made on
July 14, 2014 in respect of the period from (and including) January 14, 2014 to (but excluding) July 14, 2014. The Fixed Rate Notes
will mature on January 14, 2024.
The Notes will be issued in minimum denominations of US$200,000 principal amount and integral multiples of US$1,000 in
excess thereof. The Notes will be represented by one or more global securities registered in the name of a nominee of The Depository
Trust Company, as depositary.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of
these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.

Floating Rate Notes

Fixed Rate Notes

Per Note

Total

Per Note

Total

Public offering price

100.00%
US$750,000,000
99.43%
US$745,725,000
Underwriting discounts

0.30%

US$ 2,250,000
0.30%

US$ 2,250,000
Proceeds to us, before expenses

99.70%
US$747,750,000
99.13%
US$743,475,000
In addition to the initial public offering price, you will have to pay for accrued interest, if any, from and including January 14,
2014.
Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the "SGX-ST") for the listing
and quotation of the Notes. There can be no assurance that such listing will be obtained for the Notes. The SGX-ST assumes no
responsibility for the correctness of any statements made, opinions expressed or reports contained herein. Approval in-principle
from, admission of the Notes to the Official List of, and the listing and quotation of any Notes on, the SGX-ST are not to be taken as
an indication of the merits of the issuer or the Notes.
The underwriters expect to deliver the Notes to investors through the book-entry facilities of The Depository Trust Company on
or about January 14, 2014.

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Joint Bookrunners and Lead Managers

Barclays

BofA Merrill Lynch

Citigroup

Deutsche Bank

J.P. Morgan

Société Générale Corporate & Investment Banking
Lead Managers

US Bancorp

Woori Investment & Securities

Prospectus Supplement Dated January 7, 2014
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You should rely only on the information contained in or incorporated by reference in this prospectus supplement and the
accompanying prospectus. We have not authorized anyone to provide you with different information. We are not making an offer of
these securities in any state where the offer is not permitted.
TABLE OF CONTENTS

Page
Prospectus Supplement

Summary of the Offering
S-7

Use of Proceeds
S-9

Recent Developments
S-10

Description of the Notes
S-120
Clearance and Settlement
S-124
Taxation
S-127
Underwriting
S-129
Legal Matters
S-133
Official Statements and Documents
S-133
General Information
S-133
Prospectus

Certain Defined Terms and Conventions
1

Use of Proceeds
2

The Export-Import Bank of Korea
3

Overview
3

Capitalization
4

Business
4

Selected Financial Statement Data
7

Operations
9

Description of Assets and Liabilities
15

Debt
24

Credit Policies, Credit Approval and Risk Management
26

Capital Adequacy
27

Overseas Operations
28

Property
28

Management and Employees
29

Tables and Supplementary Information
31

Financial Statements and the Auditors
38

The Republic of Korea
100

Land and History
100

Government and Politics
101

The Economy
105

Principal Sectors of the Economy
112

The Financial System
118

Monetary Policy
123

Balance of Payments and Foreign Trade
126

Government Finance
133

Debt
135

Tables and Supplementary Information
137

Description of the Securities
142

Description of Debt Securities
142

Description of Warrants
148

Terms Applicable to Debt Securities and Warrants
149

Description of Guarantees
150

Limitations on Issuance of Bearer Debt Securities and Bearer Warrants
151

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Page
Taxation
152
Korean Taxation
152
United States Tax Considerations
154
Plan of Distribution
161
Legal Matters
162
Authorized Representatives in the United States
162
Official Statements and Documents
162
Experts
162
Forward-Looking Statements
163
Further Information
165

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CERTAIN DEFINED TERMS
All references to "we" or "us" mean The Export-Import Bank of Korea. All references to "Korea" or the "Republic" contained
in this prospectus supplement mean The Republic of Korea. All references to the "Government" mean the government of Korea.
References to " " or "Won" are to the lawful currency of Korea and "US$" or "U.S. dollars" are to the lawful currency of the United
States. Terms used but not defined in this prospectus supplement shall have the same meanings given to them in the accompanying
prospectus.
Unless otherwise indicated, all references to "Floating Rate Notes" contained in this prospectus supplement are to the
US$750,000,000 aggregate principal amount of floating rate notes due 2017 and all references to "Fixed Rate Notes" are to the
US$750,000,000 aggregate principal amount of 4.00% notes due 2024. Unless otherwise indicated, all references to the "Notes" are
to the Floating Rate Notes and Fixed Rate Notes, collectively.
In this prospectus supplement and the accompanying prospectus, where information has been provided in units of thousands,
millions or billions, such amounts have been rounded up or down. Accordingly, actual numbers may differ from those contained
herein due to rounding. Any discrepancy between the stated total amount and the actual sum of the itemized amounts listed in a table,
is due to rounding.
Prior to 2013, we prepared our financial statements in accordance with generally accepted accounting principles in Korea
("Korean GAAP" or "K-GAAP"). Our non-consolidated financial information as of and for the years ended December 31, 2012 and
2011 appearing in the accompanying prospectus was prepared in accordance with Korean GAAP. Commencing in 2013, we prepare
our financial statements in accordance with International Financial Reporting Standards as adopted in Korea ("Korean IFRS" or
"K-IFRS") and our separate financial information as of December 31, 2012, June 30, 2013 and September 30, 2013, for the six
months ended June 30, 2013 and 2012 and for the nine months ended September 30, 2013 and 2012 included in this prospectus
supplement has been prepared in accordance with Korean IFRS, which differs in certain significant respects from Korean GAAP. As
a result, our interim separate K-IFRS financial information included in this prospectus supplement is not comparable with our
non-consolidated K-GAAP financial information included in the accompanying prospectus. Note 39 of the notes to our interim
separate financial statements as of December 31, 2012 and June 30, 2013 and for the six months ended June 30, 2013 and 2012
included in this prospectus supplement provides a description of the effects of the conversion from Korean GAAP to Korean IFRS.
References in this prospectus supplement to "separate" financial statements and information are to financial statements and
information prepared on a non-consolidated basis. Unless specified otherwise, our financial and other information included in this
prospectus supplement is presented on a separate basis in accordance with Korean IFRS and does not include such information with
respect to our subsidiaries.
ADDITIONAL INFORMATION
The information in this prospectus supplement is in addition to the information contained in our accompanying prospectus dated
July 11, 2013. The accompanying prospectus contains information regarding ourselves and Korea, as well as a description of some
terms of the Notes. You can find further information regarding us, Korea, and the Notes in registration statement no. 333-180273, as
amended, relating to our debt securities, with or without warrants, and guarantees, which is on file with the U.S. Securities and
Exchange Commission.
WE ARE RESPONSIBLE FOR THE ACCURACY OF THE INFORMATION IN THIS DOCUMENT
We are responsible for the accuracy of the information in this document and confirm that to the best of our knowledge we have
included all facts that should be included not to mislead potential investors. The address of

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our registered office is 16-1, Youido-dong, Youngdeungpo-gu, Seoul 150-996, The Republic of Korea. The SGX-ST assumes no
responsibility for the contents of this prospectus supplement and the accompanying prospectus, and makes no representation as to
liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus
supplement and the accompanying prospectus. Approval in-principle from, admission of the Notes to the Official List of, and the
listing and quotation of any Notes on, the SGX-ST are not to be taken as an indication of the merits of the issuer or the Notes.
NOT AN OFFER IF PROHIBITED BY LAW
The distribution of this prospectus supplement and the accompanying prospectus, and the offer of the Notes, may be legally
restricted in some countries. If you wish to distribute this prospectus supplement or the accompanying prospectus, you should observe
any restrictions. This prospectus supplement and the accompanying prospectus should not be considered an offer and it is prohibited
to use them to make an offer, in any state or country which prohibits the offering.
The Notes may not be offered or sold in Korea, directly or indirectly, or to any resident of Korea, except as permitted by
Korean law. For more information, see "Underwriting--Foreign Selling Restrictions."

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INFORMATION PRESENTED ACCURATE AS OF DATE OF DOCUMENT
This prospectus supplement and the accompanying prospectus are the only documents on which you should rely for information
about the offering. This prospectus supplement may only be used for the purposes for which it has been published. We have
authorized no one to provide you with different information. You should not assume that the information in this prospectus supplement
or the accompanying prospectus is accurate as of any date other than the date on the front of each document.

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SUMMARY OF THE OFFERING
This summary highlights selected information from this prospectus supplement and the accompanying prospectus and
may not contain all of the information that is important to you. To understand the terms of our Notes, you should carefully
read this prospectus supplement and the accompanying prospectus.
The Notes
We are offering US$750,000,000 aggregate principal amount of floating rate notes due January 14, 2017 (the "Floating Rate
Notes") and US$750,000,000 aggregate principal amount of 4.00% notes due January 14, 2024 (the "Fixed Rate Notes", and
together with the Floating Rate Notes, the "Notes").
The Notes will be issued in minimum denominations of US$200,000 principal amount and integral multiples of US$1,000 in
excess thereof. The Notes will be represented by one or more global securities registered in the name of a nominee of The
Depository Trust Company ("DTC"), as depositary.
We do not have any right to redeem the Notes prior to maturity.
Floating Rate Notes
The Floating Rate Notes will bear interest for each Interest Period (as defined herein) at a rate equal to Three-Month USD
LIBOR plus 0.75% per annum, payable quarterly in arrears on January 14, April 14, July 14 and October 14 of each year. The
first interest payment on the Floating Rate Notes will be made on April 14, 2014 in respect of the period from (and including)
January 14, 2014 to (but excluding) April 14, 2014. Interest on the Notes will accrue from January 14, 2014, and will be
computed on the basis of the actual number of days in the applicable Interest Period divided by 360.
Fixed Rate Notes
The Fixed Rate Notes will bear interest at a rate of 4.00% per annum, payable semi-annually in arrears on January 14 and
July 14 of each year. The first interest payment on the Fixed Rate Notes will be made on July 14, 2014 in respect of the period
from (and including) January 14, 2014 to (but excluding) July 14, 2014. Interest on the Fixed Rate Notes will accrue from January
14, 2014, and will be computed based on a 360-day year consisting of twelve 30-day months. See "Description of the Notes--
Payment of Principal and Interest."
Listing
Approval in-principle has been received from the SGX-ST for the listing and quotation of the Notes. Settlement of the Notes
is not conditioned on obtaining the listing. There can be no assurance that such listing will be obtained for the Notes. The Notes
will be traded on the SGX-ST in a minimum board lot size of S$200,000 (or its equivalent in foreign currencies), for so long as
the Notes are listed on the SGX-ST and the rules of the SGX-ST so require. Accordingly, the Notes will be traded on the
SGX-ST in a minimum board lot size of US$200,000.
Form and settlement
We will issue each series of the Notes in the form of one or more fully registered global notes, registered in the name of a
nominee of DTC. Except as described in the accompanying prospectus under "Description of the Securities--Description of Debt
Securities--Global Securities," the global notes will not be exchangeable for Notes in definitive registered form, and will not be
issued in definitive registered form. Financial institutions, acting as direct and indirect participants in DTC, will represent your
beneficial interests in the global notes. These financial institutions will record the ownership and transfer of your beneficial
interest through book-entry accounts. You may hold your beneficial interests in the Notes through Euroclear Bank S.A./N.V.
("Euroclear")

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such additional securities have no more than a de minimis amount of original issue discount or such issuance would constitute a
"qualified reopening" for U.S. federal income tax purposes.
Delivery of the Notes
We expect to make delivery of the Notes, against payment in same-day funds on or about January 14, 2014, which we expect
will be the fifth business day following the date of this prospectus supplement. You should note that initial trading of the Notes
may be affected by the T+5 settlement. See "Underwriting--Delivery of the Notes."

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USE OF PROCEEDS
We will use the net proceeds from the sale of the Notes for our general operations, including extending foreign currency loans
and repayment of our maturing debt and other obligations.

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