Ministry of Economy and Finance One-Stop Export Task Force Holds Meeting with Six Policy Financial Institutions

Export-Import Bank of Korea, Korea Trade Insurance Corporation, and Others Participate

The Ministry of Economy and Finance's One-Stop Export and Order Support Task Force held an export finance meeting with six policy financial institutions on January 21. The purpose was to share each institution's support plans and review crisis response systems in order to maintain export momentum amid uncertain external conditions.

Yonhap News

On this day, the One-Stop Export and Order Support Task Force hosted the export finance meeting at the Export-Import Bank of Korea with six policy financial institutions participating in the export finance council (Fin-eX). The export finance council was established in October last year to strengthen cooperation among the task force, the Export-Import Bank of Korea, Korea Trade Insurance Corporation, Korea SMEs and Startups Agency, Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and Industrial Bank of Korea.

At the meeting, each institution announced its export finance support plans for this year. The Export-Import Bank of Korea will supply 20 trillion won over the next five years through special programs supporting AI transformation and the entire value chain, and will expand support for advanced strategic industries such as semiconductors and biotechnology to 8.5 trillion won. The Korea Trade Insurance Corporation will provide 114 trillion won to small and medium-sized enterprises and mid-sized companies through co-prosperity financing for large and small businesses, as well as region- and industry-specific trade insurance.

The Korea SMEs and Startups Agency will increase overseas subsidiary support funds to 70 billion won to help small and medium-sized enterprises expand abroad. The Korea Credit Guarantee Fund will provide guarantees totaling 15.5 trillion won through its export support guarantee program. The Korea Technology Finance Corporation will focus on six core growth engine industries-AI, biotechnology, cultural content, defense, energy, and advanced manufacturing-providing guarantees exceeding 3.6 trillion won. The Industrial Bank of Korea also plans to supply 2.2 trillion won in export finance, including the launch of a new one-stop export growth support loan.

Yoo Beom-min, Deputy Head of the Support Task Force, stated, "Despite challenging external conditions last year, Korea's exports reached an all-time high of 709.7 billion dollars. Given the continued difficulties this year, including high exchange rate volatility, supply chain risks, and expanding trade barriers in major export markets, ongoing support for companies is necessary to strengthen export momentum." The task force will hold an export company financial support program briefing at the Korea International Trade Association on January 29, and will continue efforts to provide region- and industry-specific export finance information and address on-site challenges in close coordination.