Export Package Guarantee Officially Launched... No.1 Is Semiconductor Equipment Manufacturer 'Husemenics'

The Ministry of Trade, Industry and Energy announced that Minister Andukgeun presented the first 'Export Package Preferential Finance' guarantee certificate to Choi Byungcheol, CEO of semiconductor equipment manufacturer Husemenics, at the Hana Bank headquarters on the 3rd.

The five major commercial banks?Hana, Kookmin, Shinhan, Woori, and Nonghyup?and the Korea Trade Insurance Corporation are providing a total of 2.2 trillion KRW in exceptional preferential support through the Export Package Preferential Finance program. This program offers export SMEs and mid-sized companies export funds with up to double the limit, low-interest loans (up to 0.7%P interest rate reduction), and exemptions from trade insurance and guarantee fees.

Export containers are being loaded onto a ship at Busan North Port. Photo by Jinhyung Kang aymsdream@

Husemenics, the first company to join, manufactures hydraulic presses for printed circuit board (PCB) production. It currently exports to 20 countries. Due to a recent surge in export orders, Husemenics had difficulties securing production funds, but through this Export Package Preferential Finance product, it was able to secure funding and plans to expand exports to countries such as Vietnam and the United States.

Minister An stated, "In a situation where the basic strength of export SMEs and mid-sized companies has significantly weakened due to prolonged high interest rates, it is important to expand trade insurance support to protect our export companies thoroughly and robustly. Starting with the launch of the Export Package Preferential Finance to achieve this year's record-high export performance, we will supply trade insurance worth more than 255 trillion KRW, the largest ever, to actively resolve the financial difficulties of export companies."