BNK Kyongnam Bank signs an 'Export Package Preferential Financing MOU' with the Korea Trade Insurance Corporation (K-SURE)

[Financial News] BNK Kyongnam Bank will strengthen financial support for local small and medium-sized enterprises and mid-sized companies that export, in cooperation with K-SURE.
According to financial-sector sources on the 15th, BNK Kyongnam Bank signed an 'Export Package Preferential Financing MOU' with K-SURE on the 14th.
Under the agreement, BNK Kyongnam Bank will make a special contribution of 500 million won to K-SURE. Using this as funding, it plans to provide a total of 7.8 billion won in preferential financing to businesses based in the region.
Eligible recipients are SMEs and mid-sized companies engaged in import and export recommended by BNK Kyongnam Bank. K-SURE will expand their guarantee limits by up to twofold and raise the guarantee ratio to 95%. It will also discount guarantee and insurance premiums by 20%. The plan is to improve exporters' access to financing while reducing the costs associated with using guarantees and insurance.
Support will be expanded further for companies in industries that serve as growth engines for each region under the 'Five Mega-Regions and Three Special Self-Governing Provinces Strategy.' Their guarantee limits will be increased by up to 2.5 times. Support for guarantee and insurance premiums will be available for up to one year per company, with a maximum support limit of 10 million won.

[email protected] Ye Byeong-jeong Reporter