Korea Eximbank Holds Briefing on Response to Export Crisis for Companies in Jeolla-do

President Yoon Hee-sung of Korea Eximbank. (Photos: Korea Eximbank)

The Export-Import Bank of Korea (Korea Eximbank) announced on Sept. 17 that it held Joint Policy Financing Support System Briefing for small and medium-sized enterprises (SMEs) in Jeolla-do on Sept. 16.

Approximately 70 people attended the briefing at the Korea International Trade Association’s Gwangju-Jeonnam Branch in Gwangsan-gu, Gwangju.

On hand were representatives of relevant policy-related organizations including Korea Eximbank, the Korea International Trade Association (KITA) and the Federation of Middle Market Enterprises of Korea (FOMEK), Korean Eximbank customers and executives and staff from member companies of related organizations.

At the briefing, Korea Eximbank provided information on the overall policy financing support system, encompassing both financial and non-financial services, including the SME Financial Support System, the Special Crisis Response Program, and the Supply Chain Stabilization Fund.

Lee Won-kyun, head of the SME Finance Division at Korea Eximbank, gives a speech at Jella-do Region Export Crisis Response Briefing at the Gwangju Trade Center on Sept. 16.

An international trade expert from the Korea International Trade Association (KITA) delivered a special lecture during the briefing under the theme, “Recent Trade Policy Changes and Response Strategies for Korean Companies.”

In addition, the KITA and the KOTRA provided information on support measures for companies affected by tariffs and export assistance, while JW Customs Corporation provided guidance on customs practices.

“Korea Eximbank will do its utmost to incorporate the voices of those in the field into its financial support policies and help SMEs overcome challenges from recent increases in export tariffs and the global economic downturn,” said Lee Won-kyun, head of the SME Finance Division at Korea Eximbank at the briefing.

Through these briefings, the bank will listen to the opinions of local companies and actively promote its policy financing programs to support companies.

Launch of Simplified Document Submission Service

Korea Eximbank announced on Aug. 28 that it has introduced the Simplified Document Submission Service utilizing the Ministry of the Interior and Safety’s Public MyData to facilitate corporate finance transactions.

Public MyData is a service that transmits administrative information held by administrative and public institutions to third parties in real time on request.

In 2022, Korea Eximbank established the Corporate Finance Platform for introducing web forms and external linking to digitize some document submissions.

However, documents issued by administrative agencies had limited automatic linking targets and were distributed by multiple issuers, making document submissions cumbersome.

With the introduction of this simplified service, eight types of corporate finance-related documents can now be submitted easily through one single request.

The launch of the Simplified Document Submission Service will alleviate the burden of document submission for companies that previously had to go back and forth between multiple agencies to obtain and submit documents, enabling the establishment of a more rapid and efficient financial support system.

As Eximbank staff will also be able to immediately access corporate administrative information, time required to review submitted documents will be shortened, significantly boosting internal work efficiency.

Investment of 200 Billion Won in Overseas Expansion Fund for SMEs

Korea Eximbank announced on Aug. 12 that it will invest a total of 200 billion won in a fund to support the smooth overseas expansion of small Korean exporters facing deteriorating domestic and international economic conditions.

Korea Eximbank announced that its final fund size target is over 1 trillion won.

To contribute to balanced national growth, the lender plans to provide incentives to the fund manager for a portion of its profits if the fund invests in companies located outside the Seoul metropolitan area or if the fund’s investee companies relocate their headquarters to non-Seoul metropolitan areas.

Korea Eximbank’s investment project was announced on its website on Aug. 12. Once the fund manager is selected, the fund will be established in the first half of 2026, following approval from the Minister of Strategy and Finance.

An Eximbank official stated, “Korea Eximbank launched this fund to help Korea’s small exporters overcome domestic and international economic challenges and to promote balanced national growth in line with the new administration’s policy direction.”