{
  "id": 1639087,
  "title": "Exim Bank wastes 30.1 bln won by fixing commission rate for FX bond issuance: state auditor",
  "url": "https://urgent.news/2026/08/18/exim-bank-wastes-30-1-bln-won-by-fixing-commission-rate-for-fx-bond",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T04:30:19.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260818005600315"
  },
  "original_language": "en",
  "account": "The Export-Import Bank of Korea (Exim Bank) overspent approximately 30.1 billion won (US$21.3 million) between 2018 and 2023 by setting a fixed commission rate for investment banks handling foreign currency bond issuances, according to findings from the state audit agency. During this period, the bank paid a combined 142.4 billion won in commission to lead managers chosen to oversee the issuance of 47.7 trillion won worth of foreign currency bonds. However, the auditor argued that the bank could have reduced its expenses by varying commission rates instead of maintaining a fixed percentage. The Board of Audit and Inspection (BAI) cross-referenced commission rates paid by 36 bond issuers with credit ratings comparable to those of the Exim Bank and discovered that the market typically charged lower fees for bonds with shorter maturities or higher issuer credit ratings. If the Exim Bank had utilized different commission rates, the agency estimates the bank could have saved between 8.5 billion won and the full 30.1 billion won over the five-year span.",
  "summary": "SEOUL, Aug. 18 (Yonhap) -- The Export-Import Bank of Korea (Exim Bank) wasted up...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}