Korea Trade Insurance Corporation Signs Direct Guarantee Agreement with Toss Bank to Support Export SMEs

[Financial News] Korea Trade Insurance Corporation (hereinafter referred to as K-sure) signed a 'Direct Guarantee Business Agreement' with Toss Bank on the 29th, and will start supporting non-face-to-face 'Direct Guarantee' for export SMEs from June.
'Direct Guarantee' is a product that allows SMEs to use K-sure guarantee certificates required for export financing loans without visiting a bank or K-sure branch. Since its first launch in December 2020, it has received a lot of positive feedback due to its simplified procedures and quick processing.
With this agreement, Toss Bank will be able to provide K-sure direct guarantees to export companies through a dedicated app, marking the first case for an internet-only bank following commercial banks such as Shinhan and Hana Bank.
The target users are export SMEs with export performance of more than 10,000 dollars and less than 2 million dollars, and sales exceeding 100 million won but less than 10 billion won. Toss Bank will fully support the guarantee fee, significantly reducing the financial burden on user companies.
Additionally, this agreement includes plans for cooperation between the two institutions for the digitalization of export support, such as the launch of new non-face-to-face guarantees tailored to e-commerce exports scheduled for the second half of this year, electronic post-loan management, and special contributions.
Jang Young-jin, President of Korea Trade Insurance Corporation, stated, "We will respond to changes in the trade structure, such as expanding the proportion of e-commerce exports, by utilizing Toss Bank's advanced digital platform," and added, "We will continue to promote cooperation with various financial institutions, including internet-only banks, to provide more comprehensive support to export companies with growth potential."

 

leeyb@fnnews.com Lee Yu-beom Reporter