Eximbank to Provide 28 Trillion Won in Financial Support for "K-Culture" Exports Over Five Years

Up to 1.5 Percentage Points in Preferential Rates
New K-Culture Blind Fund to Be Established

Export-Import Bank of Korea announced on March 22 that it will provide a total of 28 trillion won in policy finance over the next five years to support the export of "K-Culture."

The bank plans to establish a comprehensive support system that covers the entire K-Culture industry, from content production and platform distribution to consumer goods sales, as well as overseas subsidiaries and logistics.

First, it will introduce a special preferential interest rate of up to 1.5 percentage points. The bank will offer a maximum preferential rate of 1.2 percentage points to the K-Culture industry, and for companies participating in the “Coexistence Finance Program” that promotes joint growth between large corporations and small- to medium-sized partner companies, an additional 0.3 percentage points will be provided, for a total of up to 1.5 percentage points in preferential rates.

Additionally, in order to nurture distribution platforms as key hubs for the overseas expansion of K-Culture, the bank will provide funding to platform companies based on their export performance, while simplifying the performance verification process. It will also support funds for large platform companies to purchase export products from small and medium-sized enterprises.

To help early-stage companies secure growth capital, the bank will establish a K-Culture blind fund and expand investments in project funds targeting the global market.

Furthermore, to support Korean companies in establishing themselves in overseas markets and building logistics networks, it will actively promote on-lending finance and M&A funding support. On-lending finance refers to a method in which Export-Import Bank of Korea signs a credit line agreement with a local foreign bank and lends funds; the local bank then provides loans to local companies that do business with Korean companies, or to the local subsidiaries of Korean companies.

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