[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Trade Insurance Corporation announced on the 24th that it held an opening ceremony for its Warsaw branch in Poland on the 22nd (local time).
The K-Sure Warsaw branch oversees 11 key markets in Central and Eastern Europe, including Poland, Hungary, Romania, and the Czech Republic. Based on networks with public and private institutions, it plans to promptly and systematically provide services such as local market trend analysis, buyer credit investigations, and export receivables collection, closely supporting the trade insurance needs of domestic companies locally. It is expected to invigorate local exports and investments by Korean companies.
Poland is Korea's major trading partner in the European Union (EU), second only to Germany. Last year, Korean companies' exports to Poland amounted to $5.6 billion (approximately 6.6 trillion KRW). Additionally, Poland is recognized as the largest consumer market in Central and Eastern Europe and a strategic gateway for entry into the region.
In particular, Central and Eastern Europe is gaining attention as a key hub for the export of new industries by Korean companies. Major groups such as Samsung, LG, SK, and POSCO have established secondary battery material and recycling plants in Poland and Hungary.
Lee In-ho, president of K-Sure, stated, "We expect the Warsaw branch in Poland, known as the heart of Europe, to serve as an excellent foothold for expanding the trade territory of our companies within Europe."
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