Signing of a Business Agreement to Promote Export Companies Among Small and Medium Enterprises in Industrial Complexes
On the 9th, Kim Jeong-hwan, Chairman of the Korea Industrial Complex Corporation (left), and Lee In-ho, President of the Korea Export Insurance Corporation, are signing an MOU.
[Asia Economy Reporter Kim Cheol-hyun] Korea Industrial Complex Corporation (Chairman Kim Jeong-hwan, hereinafter referred to as KICO) announced on the 9th that it has signed a "Business Agreement to Promote Overseas Expansion of Export-Start Companies in Industrial Complexes" with Korea Trade Insurance Corporation (hereinafter referred to as K-Sure).
Through the agreement, KICO and K-Sure agreed to jointly support trade insurance, marketing, and consulting to help export-start companies successfully expand overseas. KICO will select "Export Target Companies" among companies located in industrial complexes, and K-Sure will provide export safety net insurance to cover the risk of non-payment of export proceeds up to $20,000 annually, with the insurance premium supported by KICO. For companies requiring production funds, K-Sure will also provide special guarantees based on export contracts.
Additionally, to lower export entry barriers, K-Sure will provide one-on-one export consulting to companies arranged by KICO, and regular trade insurance system briefings will be held by visiting regional hub industrial complexes directly.
Kim Jeong-hwan, Chairman of KICO, stated, "Through this agreement, we hope to provide some help to companies located in industrial complexes who are struggling due to COVID-19," and added, "We hope that through practical collaboration, KICO and K-Sure can develop into true partners for export companies."
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