Exports 'Pakkak', Protecting Companies... Gumi City Supports SMEs with Export Insurance Premiums up to 6 Million Won

Implementation of Business Agreement by Korea Trade Insurance Corporation

Gumi City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Gumi City, Gyeongbuk Province, is implementing a support project for export insurance premiums for small and medium-sized enterprises (SMEs) to create stable export conditions for SMEs.

Gumi City has decided to support insurance premiums to protect companies in overseas export transactions and ensure stable export activities for exporting companies.

The target companies are small and medium-sized export companies with headquarters or business sites in the Gumi area. Applications are accepted through the Daegu branch of the Korea Trade Insurance Corporation and go through screening.

At the time of selection, up to 1 million KRW per company will be supported, and Gumi export companies can receive overlapping support up to 6 million KRW.

The supported categories include short-term export insurance that compensates for losses incurred when export payments cannot be received after concluding an export contract with a payment period within two years, and export credit guarantees jointly guaranteed by the Korea Trade Insurance Corporation when SMEs with insufficient collateral purchase export receivables.

The application period is until the project budget is exhausted, and applications can be submitted through the Korea Trade Insurance Corporation's cyber sales office.

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