Robot Industry Promotion Agency Supports Export Financing for Small and Medium-sized Enterprises

Up to 10 Million KRW per Company
Preferential Treatment for Unsecured Credit Guarantees and Hana Bank Guarantee Fee Support

Front view of the main building of Daegu Robot Industry Promotion Agency. (Photo by Robot Industry Promotion Agency)

[Asia Economy Reporter Moon Chaeseok] The Korea Institute for Robot Industry Advancement announced on the 12th that it will support export credit guarantees for small and medium-sized enterprises (SMEs) and mid-sized companies utilizing robots. Export credit guarantees are a system that provides guarantees when borrowing export execution funds from financial institutions.

When the institute solicits and recommends companies, the Korea Trade Insurance Corporation provides preferential support for credit guarantees, and Hana Bank supports up to 10 million KRW per company for guarantee fees and other expenses.

The institute plans to offer customized management consulting by sector (legal affairs, accounting and taxation, foreign exchange consulting, foreign direct investment, global capital attraction, etc.) free of charge to applicant companies without a separate screening process.

Director Moon Jeon-il expressed gratitude to the Korea Trade Insurance Corporation and Hana Bank for their support in export finance for robot companies, saying, "I hope that robot companies struggling due to the novel coronavirus disease (COVID-19) will actively pioneer overseas markets through this export finance support and find new breakthroughs."

This content was produced with the assistance of AI translation services.