SUEUN-Korea SMEs and Startups Agency Sign MOU for Joint Support of Early Export Companies

Linking K-Sure's 'Export Startup Support Program' with KOSME's 'Export Marketing Support Program'
KOSME shares information on export beginners, promising, and growth companies, K-Sure prioritizes financial support review

The Export-Import Bank of Korea and the Small and Medium Business Corporation signed a business agreement on the 4th at the Export-Import Bank's Yeouido headquarters to jointly support early export companies and promote their sustainable growth. From the left in the photo: Visit Kyu, President of the Export-Import Bank, and Kim Hak-do, Chairman of the Small and Medium Business Corporation. Photo by XXX

[Asia Economy Reporter Park Sun-mi] The Export-Import Bank of Korea (hereinafter ‘KEXIM’) announced on the 4th that it has signed a business agreement with the Small and Medium Business Corporation (hereinafter ‘SBC’) to jointly support early-stage export companies and promote their sustainable growth.

On the morning of the same day, KEXIM President Bang Moon-kyu and SBC Chairman Kim Hak-do met at KEXIM’s headquarters in Yeouido and signed the business agreement. Going forward, the two institutions will jointly support early-stage export companies (small and medium enterprises with annual export performance of less than 5 million USD) by linking ▲ KEXIM’s financial support with SBC’s export marketing projects (including loan programs), ▲ mutual cooperation on SBC’s proactive autonomous restructuring programs for companies facing temporary management difficulties, ▲ and sharing corporate information to enable SMEs to focus on exports without financial difficulties.

KEXIM operates a support program for early-stage export companies that lack creditworthiness and collateral by providing financing based solely on the stability of export contracts and export performance capabilities. SBC also runs export marketing support projects to nurture global SMEs by providing export support services such as discovering overseas buyers, promotion, diversification of export methods (online), and financial support for SMEs.

With this business agreement, KEXIM plans to expand expedited screening and joint financial support for early-stage export companies participating in SBC’s export marketing support projects. SBC plans to strengthen cooperation between the two institutions by linking additional services such as overseas promotion and online market development for early-stage export companies recommended by KEXIM.

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After signing the agreement, KEXIM President Bang Moon-kyu said, “By combining the capabilities of the two institutions to expand support for SMEs, we expect many competitive export-strong SMEs to emerge,” adding, “KEXIM will further accelerate its role as a growth incubator for export SMEs such as ventures and startups.”