Chungnam Supports Export-Import Insurance Premiums for Companies with a Limit of 3 Million KRW per Company

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province supports export-import insurance premiums for local companies.

The province announced on the 8th that it is recruiting companies to participate in the '2021 Export-Import Insurance Premium and Buyer Credit Investigation Support Project' in cooperation with the Korea Trade Insurance Corporation.

This project is implemented to support costs incurred when small and medium-sized export companies located in the region use the insurance items (guarantee items) of the Korea Trade Insurance Corporation, with the province providing up to 3 million KRW per company.

Support is available for small and medium-sized enterprises headquartered or with factories in Chungnam whose total annual export amount last year was less than 50 million USD.

The province plans to use this support to help export companies secure the safety of the export environment by utilizing the trade insurance system and actively take steps to develop overseas markets.

Previously, in Chungnam, 304 small and medium-sized export companies received a total of 250 million KRW in project funds last year, and the export support effect created through this is estimated to have reached 99.2 billion KRW.

For more detailed information about the support project, please check the 'Chungnam Province Online Export Support System.'

Hong Man-pyo, head of the International Trade Division of the province, said, "The province will increase the support project budget by 50 million KRW this year to expand the number of supported companies," adding, "We will strive to overcome the difficulties faced by small and medium-sized export companies due to COVID-19 together."

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