"Mubo, Full Effort on On-site Communication and Policy Support for Export Companies"

Lee In-ho, President of Mubo, Visits Export Companies in Jeonbuk

Lee In-ho, President of Korea Trade Insurance Corporation (right in the photo), visited Asterbo located in Wanju-gun, Jeonbuk on the 17th to listen to management difficulties and discuss export support measures.

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Trade Insurance Corporation announced on the 18th that President Lee In-ho recently visited Ace Turbo, an industrial machinery export company in Wanju-gun, Jeonbuk, as part of expanding communication with export sites.

Ace Turbo is a small and medium-sized enterprise producing industrial blowers, and despite the impact of COVID-19, its exports grew by 68% last year compared to 2019. Although the company faced difficulties due to a fire at its manufacturing plant in its early days, the Korea Trade Insurance Corporation’s ‘Special Export Credit Guarantee’ became a stepping stone for growth. The Special Export Credit Guarantee is a system that provides special support to promising export companies with high growth potential and technical skills, even if they temporarily fall short of guarantee requirements.

In the case of Ace Turbo, additional credit loans were difficult due to a high debt ratio, but the Korea Trade Insurance Corporation supported the company based on buyer credit investigations, growth potential, and technical evaluations. Including Ace Turbo, the corporation provided special support amounting to 253.7 billion KRW to a total of 77 export companies up to last month.

Lee Sang-wook, CEO of the company, said, "The Korea Trade Insurance Corporation alleviated concerns about uncollected export payments and financing, allowing us to steadily expand the scale of export transactions. Thanks to this special support, we have secured new export clients and are on the verge of entering the North American and European markets."

President Lee In-ho of the Korea Trade Insurance Corporation stated, "Export companies that led the development of overseas markets and achieved growth despite the difficulties of COVID-19 are the driving force behind the success of our exports. We will devote all efforts to on-site communication and policy support so that export companies can continuously grow in overseas markets by utilizing trade insurance."

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