Bang Moon-kyu, President of Su-eun Bank, Visits Secondary Battery Material Companies...Promises Financial Support

Bang Haeng-jang: "Policy Finance Institutions Will Fully Play Their Role to Enhance Export Competitiveness of the Korean New Deal Industry"

On the afternoon of the 26th, Bang Moon-kyu, President of the Export-Import Bank, visited Jaewon Industry, a secondary battery material manufacturing company located in Yeosu, Jeollanam-do. After touring the research facilities and production equipment, he listened to explanations from company officials. From left in the photo are Shim Seong-won, CEO of Jaewon Industry; Bang Moon-kyu, President of the Export-Import Bank; and Lee Yong-gyu, Chairman of the Yeosu Chamber of Commerce and Industry. Photo by Shim Seong-won

[Asia Economy Reporter Park Sun-mi]Bang Moon-kyu, President of the Export-Import Bank of Korea, visited the Korean New Deal industry site and promised active financial support to strengthen export competitiveness.

The Export-Import Bank of Korea (hereinafter referred to as KEXIM) announced on the 28th that President Bang visited Jaewon Industry, a secondary battery material manufacturing company located in Yeosu, Jeollanam-do. Jaewon Industry is a mid-sized company producing conductive materials and electrolytes for secondary batteries used in electric vehicles and energy storage systems (ESS), as well as electronic solvents used in display and semiconductor manufacturing processes.

The company has production facilities in Korea, China, Malaysia, and other locations, received the $100 million export award last year, and achieved sales of 205 billion KRW. In 2019, to expand exports to display and secondary battery manufacturers in eastern China such as Tianjin, it established a joint venture with a local company in Binzhou, Shandong Province.

KEXIM supported Jaewon Industry’s global expansion by providing $6.75 million last year for the construction of its factory facilities in China.

At a meeting with President Bang, Shim Sung-won, CEO of Jaewon Industry, stated, “We plan to expand our business areas by focusing on the electric vehicle battery sector, where demand is rapidly increasing mainly in Europe, and the electronic solvent business for semiconductor materials, parts, and equipment that require advanced technology. For this, continuous investment in technology development and overseas market expansion is necessary, and active financial support from KEXIM is needed.”

In response, President Bang said, “We will strive to ensure that companies receive timely funding necessary for operating capital and overseas investment funds required for pioneering overseas markets to enhance the export competitiveness of the Korean New Deal industry.”

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