Gu Ja-yeol, Chairman of Muhyeop, "Low-interest financial support worth 50 billion won within this month"

Martial Arts, 'Chungbuk Trade Industry On-site Communication Meeting' Held

Gu Ja-yeol, Chairman of the Korea International Trade Association (KITA), announced that a loan program worth 50 billion KRW will be implemented this month to alleviate the high-interest rate difficulties faced by export companies.

On the 12th, KITA held the 'Chungbuk Trade Industry On-site Communication Meeting' chaired by Chairman Gu Ja-yeol in Cheongju City. This meeting was organized to listen to the export difficulties of small and medium-sized enterprises (SMEs) and mid-sized companies in the Chungbuk region amid the severe situation of ongoing trade deficits and export slowdowns, and to discuss strategies to resolve these issues. The meeting was attended by eight Chungbuk-based companies, including Oh Seok-song, Chairman of Meta Biomed Co., Ltd., and Lee Myung-jae, Chairman of Myung Information Technology Co., Ltd.

Koo Ja-yeol, Chairman of the Korea International Trade Association.
Photo by Yonhap News

In his opening remarks, Chairman Gu stated, "Due to recent sharp declines in semiconductor and exports to China, exports as of March have decreased by more than 12% compared to the same period last year, and export difficulties continue," adding, "Since export recovery stems from the technological and product competitiveness of our companies, KITA will maintain continuous communication with the export field to identify difficulties and will mobilize all means and capabilities to resolve them."

He continued, "In February, KITA already launched an emergency low-interest loan program worth 100 billion KRW for small and medium export companies to alleviate financial difficulties caused by high interest rates and also made policy recommendations. In April, we plan to ease support conditions and promote an additional financial support program worth 50 billion KRW," he emphasized.

Chairman Gu said, "KITA will continuously identify difficulties faced by the trade industry and immediately resolve those that can be addressed at the association level. For issues requiring policy support, we will actively propose solutions to the government and make every effort to overcome the export slump of our companies."

KITA held ten on-site communication meetings by industry and region in the first quarter of this year to overcome export sluggishness and plans to continue making government proposals to resolve difficulties and regulations identified at the corporate level.

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