The Export-Import Bank of Korea announced on the 21st that Hwang Giyeon, President of the Export-Import Bank of Korea, visited K Shipbuilding (formerly STX Offshore & Shipbuilding), a mid-sized shipbuilder in Changwon, Gyeongnam, as well as Young Poong Electronics, a leading defense parts SME, on the 19th.
Hwang Giyeon, President of the Export-Import Bank of Korea, visited K Shipbuilding, a mid-sized shipbuilding company in Changwon, Gyeongnam, on the 19th, and is seen conversing with Kim Chan, CEO of K Shipbuilding. Photo by Yonhap News
During this visit, President Hwang announced that the bank will newly provide a 150 billion won advance payment refund guarantee (RG) to support mid-sized shipbuilders such as K Shipbuilding whose management has normalized.
President Hwang stated, "Shipbuilding accounts for a significant portion of our country's exports and makes a substantial contribution to the regional economy and job creation in the Busan, Ulsan, and Gyeongnam areas. We will expand strategic financial support to strengthen order competitiveness and the industrial ecosystem for mid-sized shipbuilders whose management has normalized following past industry restructuring."
President Hwang went on to say, "Young Poong Electronics is actively engaged in business activities to meet European demand, including the completion of its second plant. We will focus on supporting leading local SMEs and mid-sized companies to fulfill our policy finance role in creating quality jobs and revitalizing the regional economy."
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