The Export-Import Bank of Korea (KEXIM) and Korea Credit Guarantee Fund (KODIT) Join Hands to Support SMEs

[Financial News] KEXIM and KODIT are working together to reduce the financial-cost burden on exporting SMEs.
The two institutions signed an agreement to promote productive and inclusive finance on the 26th. Under the agreement, KEXIM will pay part of the guarantee fees owed by companies that receive loans from KEXIM guaranteed by KODIT.
To this end, KEXIM will make a special contribution of 1 billion won in guarantee-fee support funds. KODIT will use the funds to provide guarantees under the guarantee-fee support agreement, and KEXIM has agreed to make additional contributions if the funds are depleted.
Eligible recipients include SMEs operating in new growth engine industries such as AI, as well as exporting SMEs. Guarantee-fee support will be provided over three years, up to a total of 3.0 percentage points: up to 1.5 percentage points in the first year, up to 1.0 percentage point in the second year, and up to 0.5 percentage points in the third year.
KEXIM President Hwang Ki-yeon said, "Building on our close partnership with KODIT, we will lower the financial barriers facing exporting SMEs," adding, "We will continue to provide comprehensive policy financing support so they can strengthen their ability to respond to crises and their future competitiveness."
KODIT Chairman Kang Seung-jun said, "I hope this agreement will provide practical help to innovative growth companies struggling amid high interest rates as they secure funding when they need it," adding, "We will carefully develop tailored policy financing measures to expand the nation's growth engines and continuously support the growth of exporting companies."

[email protected] Park Mun-su Reporter