Korea Housing Finance Corporation to Support Small and Medium Enterprises in Busan, Ulsan, and Gyeongnam for Expansion into the Middle East

Eight Public Institutions in Busan Sign Export Support Agreement for Small and Medium Enterprises

Korea Housing Finance Corporation (HF) has signed a "Public-Private-Government Collaboration Export Support Agreement for SMEs" with the Busan Regional Office of SMEs and Startups, four public institutions in the Busan area, Busan International Finance Center, and Hana Bank to support small and medium-sized enterprises (SMEs) in the Busan, Ulsan, and Gyeongnam regions to expand into the Middle East.

The Korea Housing Finance Corporation is signing a public-private partnership export support agreement for small and medium-sized enterprises in collaboration with eight organizations.

The four public institutions in the Busan area are Korea Technology Finance Corporation, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, and Korea Asset Management Corporation.

Under the agreement, the participating organizations will help SMEs in the Busan, Ulsan, and Gyeongnam regions enter Middle Eastern countries (Saudi Arabia, United Arab Emirates, Qatar) by 2028.

In particular, HF will provide export financing loans to these companies at low interest rates as they explore the Middle Eastern market, while also supporting budgets for discovering local buyers and consulting services.

Additionally, loan interest rates will be reduced by up to 3.5 percentage points for one year.

Choi Junwoo, President of Korea Housing Finance Corporation, said, "We hope this agreement will help SMEs in the Busan, Ulsan, and Gyeongnam regions seeking to expand their export channels to the Middle East," adding, "Korea Housing Finance Corporation will continue efforts to expand overseas business and financial support programs for local SMEs."

Korea Housing Finance Corporation Supporting Middle East Expansion of Small and Medium Enterprises in Busan, Ulsan, and Gyeongnam.