Kang et al. v. KEXIM and KSURE

This case is a civil injunction claim filed on Apr. 30, 2024, before the Seoul Central District Court by nineteen Korean youth plaintiffs together with Friends of the Earth Mozambique, an environmental NGO. The defendants are the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (KSURE). The plaintiffs seek to prohibit KEXIM and KSURE from providing loans or guarantees to the Mozambique Coral South Floating Liquefied Natural Gas (FLNG) project, part of a large-scale gas development initiative in the Rovuma Basin. The plaintiffs argue that financing the Coral South FLNG project violates constitutional rights under the Korean Constitution, including the rights to life, a healthy environment, and the protection of future generations, as well as Korea’s statutory obligations under domestic environmental and administrative law. They contend that KEXIM and KSURE’s support for the project would undermine the state’s duties to pursue sustainable development and to align public finance with Korea’s international climate commitments, including the Paris Agreement. According to the plaintiffs, the project will result in long-term fossil fuel lock-in, contribute substantially to global greenhouse gas emissions, and exacerbate the climate crisis with no overriding public interest justification. The petition highlights Mozambique’s acute climate vulnerability, political instability, and weak governance, which exacerbate the risks of human rights violations, corruption, and project failure. It also stresses that the Coral South FLNG project has questionable economic viability due to high project costs and a declining global market for liquefied natural gas. The plaintiffs argue that channeling Korean public funds into this project exposes Korean youth and Mozambican communities alike to disproportionate and irreversible risks, while undermining the rights of present and future generations.