Export-Import Bank of Korea said Monday it has provided 100 million euros ($117.5 million) in financing for the Kinali-Malkara Motorway Construction and Operation Project led by Korea Expressway Corporation in Turkey.
The project covers the construction and operation of a 127-kilometer motorway linking key transport corridors in the northwestern Marmara region. The route runs from Kinali, west of Istanbul, to the Canakkale Bridge and its adjoining motorway — infrastructure completed in 2018 by a South Korean builder with financial backing from the bank.
The deal reflects a strategic shift in Korea’s overseas infrastructure push toward higher value-added segments such as operation and maintenance, as competition from China and India intensifies.
The bank is also expected to help the Korea Expressway Corporation build a track record in operations — a key requirement for bidding on global projects — and position it to form consortia with construction firms for follow-on deals in Turkey.
The project marks a tangible outcome of a road infrastructure cooperation memorandum of understanding signed between the Korea Expressway Corporation and Turkey’s General Directorate of Highways during a bilateral summit in November last year, underscoring deepening economic ties.
“Despite ongoing uncertainties in the Middle East, Turkey’s strategic importance as a logistics hub is growing,” a bank official said. “We will continue to support Korean firms in expanding overseas and strengthening bilateral cooperation.”
By Jeon Ji-woo (jwjeon7625@heraldcorp.com)
