"67 Trillion KRW Trade Insurance Support for Exporting SMEs This Year"

Lee In-ho, President of the Korea Trade Insurance Corporation, Visits SMEs to Hear Their Difficulties

Lee In-ho, President of Korea Trade Insurance Corporation (left), visited Hanlip located in Siheung, Gyeonggi Province on the 23rd to listen to management difficulties and discuss export support measures.

[Asia Economy Sejong=Reporter Kwon Haeyoung] Lee In-ho, President of Korea Trade Insurance Corporation, has decided to expand the trade insurance support scale to 67 trillion won this year for export small and medium-sized enterprises (SMEs) and mid-sized companies, and has started strengthening on-site communication with companies.

According to K-sure on the 24th, last year, it supported trade insurance worth a record high of 66.6 trillion won for SMEs and mid-sized companies. Based on this, total SME exports also reached a record high of 117.1 billion dollars.

K-sure plans to expand the trade insurance support scale for SMEs to 67 trillion won this year. It will focus on fostering new growth engines such as hydrogen energy, introducing SME guarantees with maturities extended up to three years, and providing financial support for raw material imports to stabilize supply chains.

President Lee visited Hanrip, a construction machinery equipment and special steel manufacturing SME located in Siheung, Gyeonggi Province, the day before to check export difficulties of companies and support trade insurance. Hanrip increased its market share in France and Finland during the COVID-19 pandemic based on its manufacturing technology of special steel and hydraulic breakers, achieving a 31% growth in exports compared to the previous year.

K-sure plans to strengthen short-term export insurance support so that Hanrip can continue its export growth trend, reducing the risk of non-payment of export proceeds, and will conduct credit investigations on buyers in emerging countries such as Southeast Asia to support the discovery of new export trading partners.

President Lee said, "Although external uncertainties such as rising raw material prices and interest rate hikes continue this year, K-sure will support export SMEs and mid-sized companies on the front lines so that they can enter overseas markets stably and achieve results."

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