Export-Import Bank of Korea (Korea Eximbank) Chairman and CEO Hwang Ki-yeon speaks during a press conference at the Korea Federation of Banks building in central Seoul, Wednesday. Yonhap

The Export-Import Bank of Korea (Korea Eximbank) Chairman and CEO Hwang Ki-yeon pledged on Wednesday to mobilize the bank’s full policy capacity to help small and mid-sized enterprises (SMEs) weather mounting global trade uncertainties, aided by a financial support package that will revitalize exports, bolster regional economies and secure Korea’s strategic industries.

Marking his 100th day in office, Hwang held a press conference at the Korea Federation of Banks building in central Seoul to outline policy goals to overcome what he described as a “trade crisis” and to foster a healthy industrial ecosystem where not only large conglomerates but SMEs are able to seek support.

Central to the drive is a strengthened policy package for exporters worth 150 trillion won ($103 billion), designed to help firms struggling with heightened geopolitical tensions, supply chain disruptions and slowing global demand, as well as artificial intelligence (AI) transformation.

“We will concentrate all of our policy capabilities on overcoming trade challenges, building a robust industrial ecosystem encompassing small- and mid-size exporters,” he said.

The updated version of the state-run lender’s existing crisis response program will help companies navigate short-term challenges by shouldering up to 80 percent of consulting fees for law and accounting firms.

The package will enhance support for businesses reshoring back to Korea, promote entry into new markets, and introduce assistance for companies to expand their presence in the global market in the sectors such as K-culture.

To boost regional growth, the lender plans to provide 110 trillion won in financing to SMEs and mid-sized firms, and raise the share of loans to companies outside the Seoul metropolitan area to over 35 percent.

In the first half of this year, the bank will also establish a 1.3 trillion won regional-led growth fund supporting export-oriented SMEs.

The lender will also inject 22 trillion won into a program supporting the AI transformation (AX) shift, while strengthening investment in venture funds to nurture promising AI firms.

Source: Korea Times News