K-sure to Dig up Huge Support to Boost Exports and Jobs

President Moon Jae-do of Korea Trade Insureance Corp.(K-sure)

Korea Trade Insurance Corp.(K-sure) announced recently that it plans to sign trade insurance contracts worth 65 trillion won by 2022 to support Korea’s international trade while introducing a number of trade insurance products including the Job Creation Network Guarantee, next month, to benefit SMEs so that they can create new jobs.
President Moon Jae-do said in a media get-together on April 10 that the company is ready to go all the way to give support to SMEs so that they can boost their exports by overcoming protectionism, and catch up with large firms in growth to close the growth gap between the large and small firms.
In order to bring that about, K-sure will boost its trade finance support to 49 trillion won this year and to 65 trillion won in 2022, up 32.6 percent.
He said he will see that those trade finance will be provided to the SMEs through the conveyor belt like facilities so that they will get them for sure without much troubles in the process and risks so that they may focus fully on exporting goods and services.
K-sure is also ready to give the incentives to SMEs advancing to newly emerging markets and new industries while professional trading firms will get a 35 percent discount in insurance premiums when they enter the risky markets in emerging countries by allowing 10 percent more cut on 25 percent discount already made.
The business firms entering new industries including electric cars, robotics, bio health and others will also be given favorable insurance premiums., the CEO said.
In addition, the K-sure will provide an opportunity to South Korean financial institutions, including the Korea Development Bank (KDB), to participate in developing country investment development projects dominated by foreign firms. Pres. Moon of K-sure said “The overseas construction market is changing to investment and development projects where not only technology but also financing abilities are important. The K-sure will focus on helping domestic companies to obtain more investment development projects as well as domestic financial institutions to take part in foreign projects in the future.”
The company will help the SME exporters to meet one-on-one with large foreign import firms to boost their exports and explore other global markets in Africa, Asia and CIS, in particular, the construction and infrastructure projects by providing them with trade insurance products that they can benefit from in addition to the Middle East market known for various plant projects in particular.
K-sure is also ready to help create new jobs around the country with its New Workplace Network Guarantee and special job support program. He said K-sure will be alert to new changes to explore new future and make reform one after another so that it will win the trust of the people and its customers as a state policy finance institution.
The Korea Trade Insurance Corporation was officially established on July 7, 2010 at its headquarters located in Seorin-dong, Jongno-gu, Seoul. Hence, the Korea Export Insurance Corporation, established on July 7, 1992, has been renamed the Korea Trade Insurance Corporation on its 18th anniversary in order to become a total trade investment and insurance provider.
Minister Moon said during the ceremonial speech, “The Korea Export Insurance Corporation has been reborn as the Korea Trade Insurance Corporation in order to support the import of raw materials and major materials in addition strengthening credit support for overseas investment, overseas business, overseas resources development, and trade with large companies and SMEs.”

산업통상자원부는 청년 실업 문제를 해소하고 수출 중소․중견기업의 혁신성장을 지원하기 위해 ｢청년 일자리 창출 우수기업 특별지원 제도｣를 신설하여 4. 26.부터 본격 시행한다.
특히 청년일자리를 많이 늘렸을 뿐만 아니라, 새로운 청년 일자리를 만들고, 근로여건 개선에도 앞장선 수출 중소․중견기업을 집중적으로 지원할 방침이다.

구체적인 지원 요건으로 먼저, “많은 청년 일자리” 창출 기업에는 최근 1년간 청년 고용을 대폭 늘렸거나(중소기업 10% 이상, 중견기업 5% 이상), 조세특례제한법(이하 ‘조특법’) 상 청년고용 증대로 세액공제를 받은 기업 등이 해당하며,

“새로운 청년 일자리” 창출 기업은 청년이 직접 창업을 했거나, 창업․벤처기업이면서 청년 고용을 늘린 기업 등을 대상으로 한다.

또한, “좋은 일자리” 창출 기업에는 평균 근속연수가 7년 이상이거나, 조특법 상 정규직 전환에 따른 세액공제를 받은 기업이 해당된다.

신설하는 특별지원 제도는 중소․중견기업 주요 애로인 유동성 해소와 수출대금 미회수 손실 보상을 위한 무역보험 한도 우대 및 수수료 할인을 골자로 한다.

우선, 유동성 해소를 위해 수출물품 선적 이전에 제작자금 대출 시 보증하는 ‘선적전 수출신용보증’의 경우 기업별 한도를 최대 10억 원 추가하고 보증료를 50% 할인하며, 수출물품 선적 이후에 수출채권 담보를 통한 대출 시 보증하는 ‘선적후 수출신용보증’의 경우 기업별 한도를 최대 2배 확대하고 보증료를 최대 50% 할인한다.

특히, 선적전 수출신용보증은 기업이 청년 상시 근로자 1명을 새로 채용할 때마다 대출 한도를 3천만 원씩 늘리는 등 청년을 많이 채용할수록 기업의 혜택도 늘어나도록 설계했다.

아울러, 결제기간 2년 이하인 단기거래 수출기업에게 수출대금 미회수시 손실을 보상하는 ‘단기수출보험’의 경우에도 기업별 한도를 최대 2배 확대하고 보험료를 최대 50% 할인한다.

A view of the building in Seoul where K-sure has its offices. (Photos: K-sure)