Choi Jin-sik, president of the Federation of Middle Market Enterprises of Korea (FOMEK), asked The Export-Import Bank of Korea to expand policy finance to support middle-market companies' investment and exports.
According to FOMEK on the 20th, Choi met with Hwang Gi-yeon, head of The Export-Import Bank of Korea, in FOMEK's reception room the previous day and exchanged views on innovative policy finance measures to support expanding exports by middle-market companies.
Choi said, "Middle-market companies account for 17.7% of Korea's total exports and play a key role in global value chains and supply networks," adding, "Maintaining and strengthening the export competitiveness of middle-market companies is an essential precondition for reviving dynamism across industries."
He added, "It is a very desirable direction that the Export-Import Bank has steadily expanded support for middle-market companies," but noted, "To effectively back the policy finance needs of middle-market companies, in addition to increasing the scale, it is urgent to significantly relax support criteria, remove unnecessary administrative burdens, and otherwise enhance practical accessibility."
Hwang said the bank is pursuing a variety of financial programs to help middle-market companies overcome trade crises, enter global markets, and build key supply chains.
Hwang said, "We will actively provide support to bolster our corporations' practical competitiveness in response to changes in the external environment."