One-stop Export and Overseas Order Support Group Holds Export Finance Meeting with Six Policy Financial Institutions

The One-stop Export and Overseas Order Support Group announced on the 21st that it held an export finance meeting at The Export-Import Bank of Korea (KEXIM) with six policy financial institutions, known collectively as the Export Finance Consultative Body Fin-eX. The six policy financial institutions are KEXIM, Korea Trade Insurance Corporation (K-SURE), Korea SMEs and Startups Agency (KOSME), Korea Credit Guarantee Fund (KODIT), Korea Technology Finance Corporation (KOTEC), and Industrial Bank of Korea (IBK).
The meeting was organized to share each institution’s export finance support plans for this year amid a highly uncertain external environment, and to discuss ways to strengthen cooperation going forward.
Deputy Head Yoo Beom-min stated, "Despite a challenging external environment, our country’s exports reached a record high of 709.7 billion dollars last year." He added, "Given the difficult conditions this year, including high exchange rate volatility, supply chain risks such as raw material issues, and rising trade barriers in major export markets, it is a critical time for continued support to companies in order to reinforce export momentum."
During the meeting, each institution presented its key export finance support plans. KEXIM said it plans to provide 20 trillion won over the next five years through special programs that support Artificial Intelligence (AI) transition and the entire value chain. It also announced that support for advanced strategic industries such as the semiconductor industry and the biotechnology industry will be expanded to 8.5 trillion won.
K-SURE plans to supply 114 trillion won to small and medium-sized enterprises and mid-sized companies by offering cooperative finance programs for large and small firms, as well as customized trade insurance for each industrial group under the 5 Poles 3 Special Growth Engine initiative. KOSME intends to expand its Overseas Subsidiary Support Fund, which helps small and medium-sized enterprises establish a presence abroad, to 70 billion won.
In addition, KODIT plans to provide a total of 15.5 trillion won in guarantees to exporting companies through export support guarantee programs and other schemes. KOTEC noted that it will expand its priority support areas, focusing on six core growth engine industries, and provide more than 3.6 trillion won in guarantees to export companies. IBK announced that it will supply 2.2 trillion won in export finance, including through the introduction of a new One-Stop Export Growth Support Loan.
Starting with an information session next week on financial support programs for export companies, the One-stop Export and Overseas Order Support Group plans to provide tailored export finance information by region and industry, while continuing on-site efforts to resolve difficulties faced by businesses.
Yoo Beom-min said, "The Support Group will continue to closely examine the challenges faced by export companies on the ground." He continued, "In response to any further deterioration in external conditions, we will strengthen support for sectors under stress, and, in close cooperation with policy financial institutions, push ahead with briefings to enhance companies’ capacity to manage exchange rate risks and to address supply chain risks such as raw material procurement."
syj@fnnews.com Seo Young-jun Reporter