The Export-Import Bank of Korea said on the 22nd it will provide 28 trillion won in policy finance over five years to grow "K-culture" as an export engine. It plans to support the entire process from content production to distribution, sales and overseas logistics.
The Export-Import Bank of Korea will offer a preferential interest rate of up to 1.2 percentage points for K-culture projects. For corporations participating in a co-prosperity finance program, an additional 0.3 percentage point will be added, raising the preferential rate to 1.5 percentage points.
The Export-Import Bank of Korea will create a K-culture blind fund to support growth capital for early-stage corporations. It will also expand investment in a "project fund" aimed at the global market. A blind fund raises capital first and then identifies targets to invest in, while a project fund determines investment targets in advance and then raises the necessary capital.
The Export-Import Bank of Korea will also support on-lending finance and mergers and acquisitions (M&A) funds to help domestic corporations establish themselves in overseas markets and secure logistics networks. In on-lending finance, the bank signs a credit line agreement with a local foreign bank and lends funds, and the local bank then extends loans to local firms that have a transaction with Korean corporations.