Visiting Gyu Soo-eun, President of KDB, Visits Gyeongbuk Auto Parts Company Site

Bang Haengjang "Will Provide Financial Support to Strengthen Competitiveness of the Automotive Industry Ecosystem"

Visiting Kyu Bang, President of the Export-Import Bank (left in the photo), visited Hwashin, an automobile chassis and body manufacturer located in Yeongcheon, Gyeongbuk, on the 15th, and is listening to CEO Seo-jin Jeong about the difficulties faced by the related industry. Photo by Bang Kyu

[Asia Economy Reporter Kangwook Cho] Bang Moon-kyu, President of the Export-Import Bank of Korea, visited small and medium-sized enterprises (SMEs) and mid-sized companies related to automobile parts in the Gyeongbuk region, which are successfully overcoming the impact of the novel coronavirus disease (COVID-19).

The Export-Import Bank of Korea announced on the 16th that President Bang visited Hwashin, an automobile chassis and body manufacturer located in Yeongcheon, Gyeongbuk, and Cap, an automobile wiper manufacturer located in Sangju, Gyeongbuk, on the afternoon of the 15th, to listen to the difficulties faced by the related industries.

Jung Seo-jin, CEO of Hwashin, said on the day, "In response to the electric vehicle era, it is necessary to expand financial support for continuous research and development, such as lightweight materials and the development of electric vehicle battery cases." Hwashin is a mid-sized company that manufactures chassis and bodies, which correspond to the frame and body of automobiles, and has been entering major global automobile markets such as India, China, the United States, and Brazil since 2002 together with Hyundai and Kia Motors.

Nam Ki-hyuk, CEO of Cap, requested, "In a situation where global demand has significantly contracted due to the spread of COVID-19, timely financial support from the Export-Import Bank is essential." Cap is a small and medium-sized enterprise manufacturing aftermarket automobile wipers, exporting its products to global distributors such as Walmart and overseas automobile accessory dealerships through leading global parts companies.

In response, President Bang emphasized, "The automobile industry has led Korea's exports and has a great effect on job creation," adding, "We will support building a competitive industrial ecosystem in preparation for the post-COVID era and changes in the global automobile industry."

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