Gov't starts trade finance to help boost exports
- 5 years ago
The South Korean government is significantly boosting trade finance to help local exporters struggling with cash flow.
Trade minister Sung Yun-mo will sign an agreement with the Korea Trade Insurance Corporation and four local banks, including Kookmin Bank and Shinhan Bank, in the coming hours.
The banks will start issuing export bond guarantees worth around 880 million U.S. dollars that can be liquidated into cash.
This comes after the government announced measures to help boost South Korea's flagging exports early last month.
Trade minister Sung Yun-mo will sign an agreement with the Korea Trade Insurance Corporation and four local banks, including Kookmin Bank and Shinhan Bank, in the coming hours.
The banks will start issuing export bond guarantees worth around 880 million U.S. dollars that can be liquidated into cash.
This comes after the government announced measures to help boost South Korea's flagging exports early last month.