If Exporting SMEs and Mid-sized Companies Borrow from Woori Bank, Interest Rate Discount of 0.5% Applies

Woori Bank announced on the 6th that it signed a 'Business Agreement for the Promotion of Overseas Market Expansion and Investment of Domestic Companies' with the Korea Trade Insurance Corporation (K-sure) at K-sure's office in Jongno-gu, Seoul on the 5th.

Under this agreement, Woori Bank and K-sure will actively support the overseas expansion and investment of excellent small and medium-sized enterprises (SMEs) and mid-sized companies aiming for global advancement.

First, both parties will provide customized overseas expansion solutions for SMEs and mid-sized companies by utilizing K-sure's strategic financial products such as medium- to long-term export insurance, overseas business finance insurance, overseas investment insurance, and export base insurance.

Additionally, Woori Bank plans to offer an interest rate discount of at least 0.5 percentage points to SMEs and mid-sized companies that receive credit from Woori Bank using K-sure's customized products. K-sure will provide these companies with up to a 30% discount on insurance premiums.

Furthermore, both parties will support the costs of feasibility studies incurred during the overseas expansion of SMEs and mid-sized companies, providing up to 100 million KRW per project to alleviate the financial burden on these companies.

A Woori Bank official stated, “This agreement provides an opportunity for Woori Bank to actively participate in the overseas business finance market, which has been centered on foreign global banks,” and added, “Woori Bank plans to further expand support using global channels so that SMEs and mid-sized companies can receive various financial supports when expanding overseas.”

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