Korean NCP accepts complaint against Korean ECA and others

(OECD Watch, Amsterdam, 8 April 2020) On 17 March 2020, the Korean National Contact Ppoint accepted a complaint against KEXIM, the export credit agency (ECA) of South Korea, for financial support of harmful palm oil production practices in Indonesia. This is a significant step, as it is the second time an NCP has deemed an ECA a multinational enterprise (MNE) covered under the broad definition of MNEs in the OECD Guidelines. The complaint alleges that KEXIM and the NPS had failed to implement adequate human rights and environmental due diligence to address the adverse risks and impacts of their financial services.