This deepening relationship will expand and
accelerate export opportunities for Canadian clean tech and
advanced manufacturing
OTTAWA,
ON, July 3, 2024 /CNW/ - Export
Development Canada (EDC), Canada's
export credit agency, and SK Group, the second largest conglomerate
in South Korea, announced today the signing of a Memorandum of
Understanding (MOU) to advance export trade and investments between
Canada and the Republic of Korea
("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 their commitment to the
Korea Green New Deal, Canadian technology, innovation and capital
can all play an important role."
About EDC
Export Development Canada (EDC) is a financial Crown
corporation dedicated to helping Canadian businesses make an impact
at home and abroad. EDC has the financial products and knowledge
Canadian companies need to confidently enter new markets, reduce
financial risk and grow their business as they go from local to
global. Together, EDC and Canadian companies are building a more
prosperous, stronger and sustainable economy for all
Canadians.
For more information and to learn how we can help your
company, call us at 1-800-229-0575 or visit
www.edc.ca.
About SK Group
SK Group, South
Korea's second-largest conglomerate, is a
collection of global industry-leading companies driving innovations
in energy, advanced materials, biopharmaceuticals and digital
business. Based in Seoul, SK
invests in building sustainable businesses around the world with a
shared commitment to reducing global greenhouse gas emissions. SK
companies combined have $151 billion
in global annual revenue and employ more than 100,000 people
worldwide. SK Group is one of TIME's 100 Most Influential Companies
of 2023.
SOURCE Export Development Canada 2 (EDC)