This study examines whether policy communication by a government-linked export credit institution is reflected in stock prices. Focusing on the Export–Import Bank of Korea, we analyze stock market reactions to official announcements on export finance, guarantees, project finance, and sectoral support from 2016 to 2024 using an event-study approach. Equity prices respond positively on announcement days, with stronger effects for announcements involving concrete policy actions such as program launches, liquidity support, or expanded guarantees rather than general agreements. The effects are more pronounced for export-oriented firms, financially constrained firms, and during periods of elevated economic uncertainty, indicating that policy communication conveys information about future financing conditions valued by the market.