KB Kookmin Bank Provides Approximately 500 Billion KRW in Financial Support for Export-Import Companies

Preferential Export-Import Finance Guarantee Limits and Guarantee Fee Support!

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced that it plans to support approximately 500 billion KRW in export-import financing for export-import companies struggling due to the prolonged COVID-19 pandemic.

Since October last year, Kookmin Bank has made a special contribution of 30 billion KRW to the Korea Trade Insurance Corporation to issue guarantees for export-import financing targeting small and medium-sized enterprises (SMEs) and mid-sized companies. Currently, the guarantee amount for recommendation letters issued by KB Kookmin Bank to obtain Korea Trade Insurance Corporation guarantees for export-import companies reaches about 100 billion KRW.

Export-import companies that receive Korea Trade Insurance Corporation guarantees through Kookmin Bank can be granted guarantee limits up to twice the existing foreign exchange credit limit and receive guarantee fee discounts. Additionally, various benefits such as exemption from overseas remittance fees and discounts on letter of credit fees are provided to companies conducting foreign exchange transactions using the guarantees as collateral.

Meanwhile, Kookmin Bank is also running an event until June 30 for corporate customers who newly open the exclusive export-import account "KB Export-Import Preferred Foreign Currency Account," offering preferential exchange rates on deposits and withdrawals and chances to win prizes. A Kookmin Bank official stated, “We will establish ourselves as a reliable lifelong financial partner by supporting export-import companies facing difficulties due to the prolonged COVID-19 pandemic.”

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