New Album Release, Implementation of 1 Trillion Won Scale 'Export Company Special Guarantee'

Supporting Smooth Financing for Export Companies through Expanded Guarantee Limits, Preferential Guarantee Ratios, and Guarantee Fees

[Asia Economy Reporter Kwangho Lee] The Korea Credit Guarantee Fund announced on the 29th that it has implemented the 'Special Guarantee for Export Companies' to support export companies struggling due to the prolonged COVID-19 pandemic in overcoming management crises and stabilizing their operations.

The support targets export companies that export items related to the Korean New Deal and six new growth engines, or operate in key industries and service sectors. Companies with indirect export performance by supplying raw materials to export companies, as well as companies with no export performance but holding export contracts, are also included.

Through this special guarantee, the Korea Credit Guarantee Fund plans to provide new guarantees totaling 1 trillion won, expanding guarantee limits according to sales scale, and offering preferential treatment with a guarantee ratio of 95% and a 0.3 percentage point reduction in guarantee fees to support smooth financing for export companies.

Additionally, special guarantees of 500 million won or less can be decided at branches regardless of the existing guarantee amount, enabling rapid guarantee support.

A representative of the Korea Credit Guarantee Fund stated, "Export companies are a key driving force for national economic growth," and added, "We will do our best to strengthen the competitiveness of export companies and restore export vitality through the swift provision of this special guarantee."

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