KB Kookmin Launches 'Import Finance Product' Application Service via Electronic Trade

Apply for 'KB Payment Usance' Product Without Visiting Bank or Signing Up for Corporate Banking

KB Kookmin Bank announced on the 2nd that it has become the first bank in the industry to support import payment via remittance using electronic trade services (EDI) through the application of ‘KB Payment Usance’.

In collaboration with Korea Trade Network (KTNET), customers using electronic trade services can now use ‘KB Payment Usance’ non-face-to-face. From application to processing result notification, everything is available on the digital trade platform UTradeHub, greatly enhancing customer convenience.

‘KB Payment Usance’ is an import financing product that supports payment in advance at a low interest rate in cooperation with overseas financial institutions when domestic import companies pay overseas export companies for imported goods. Thanks to KB Kookmin Bank’s high credit rating, it is possible to provide funds at a low interest rate, significantly reducing the financial burden on import companies.

A KB Kookmin Bank official explained, “With this channel expansion, export and import companies can use export-import financial products more conveniently,” adding, “We will continue to do our best to enhance customer convenience and expand various financial services.”

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