DGB Daegu Bank Signs First Agreement for 'Export-Import Company Guarantee Fee Support'

DGB Daegu Bank announced on the 4th that it has selected the first company for the 'Export Credit Guarantee Fee Support Program' it is conducting to support local export companies.

This guarantee fee support program is part of the 'Guarantee Fee Support Business for Small and Medium Export-Import Companies' agreement signed between Daegu Bank and the Korea Trade Insurance Corporation. Daegu Bank selected Ideal, a plastic film manufacturer located in Chilgok-gun, Gyeongbuk, as the first company and supported 50% of the guarantee fee.

Export credit guarantees are a system in which the bank purchases export receivables from export companies to help them secure liquidity, with the Korea Trade Insurance Corporation providing the guarantee.

Lee Jae-sik, CEO of Ideal, said, "Through the support of Daegu Bank, with which we have had a long-standing relationship, we expect to reduce guarantee fees and facilitate smoother cash flow management by early monetization of export receivables."

Hwang Byung-woo, President of Daegu Bank, stated, "As a leading regional bank, we will further strengthen the 'Comprehensive Export Company Support Program' to become a reliable partner for export-import companies and plan to launch specialized products, services, and exclusive programs for export companies."

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