Seoul: The state-run Export-Import Bank of Korea (Exim Bank) announced on Tuesday that it has successfully raised US$2 billion through an international bond sale.

According to Yonhap News Agency, the debt issuance was divided into two parts: $1 billion in three-year fixed-rate bonds and another $1 billion in five-year fixed-rate debt. Initially, the policy lender had scheduled the debt issuance for September. However, the bank opted to expedite the process to secure funds for critical industrial policies, specifically targeting the artificial intelligence, semiconductor, and bio sectors.

The Exim Bank's current objective is to amass $17 billion this year through overseas borrowing and debt issuance. This latest bond sale marks a significant step towards achieving that financial goal.