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Korea Exim News

Companies Based in Daegu & North Gyeongsang Province Invited by Bank Chairman to a Customer Gathering

Date 2011.04.20 View 27891
□ On April 12, Chairman & President of Korea Eximbank Yong Hwan Kim visited Daegu and met with nine CEOs from companies active in specialized automobile and steel industries in Daegu and North Gyeongsang province. Chairman Kim listened to the challenges faced by the SME exporters located in the countryside, such as the recent price hikes in raw materials, in order to seek effective strategies for SME support.

□ The entrepreneurs in attendence expressed their gratitude for the Bank’s active financial support to the industry, particularly the support provided in the wake of the global financial crisis. They also requested support tailored to the particular needs of the specialized industries in the region such as efforts to expand into overseas markets by the Hyundai Motor Group and POSCO.

□ Chairman Kim stated, “Korea Eximbank will examine project characteristics and provide specialized financial & non-financial services, including overseas investment funds and investment information on specific overseas markets, to support the simultaneous entry of conglomerates and their regional subcontractors into overseas markets. In doing so, the Bank aims to foster shared growth of conglomerate and SMEs.”

□ “Through the Korean Hidden Champion Initiative, Korea Eximbank will provide tailored financing for each stage of development to assist SMEs become leaders in their specialized sectors. The Bank will also promote exports of green and new growth industries to further strengthen the Bank’s role in assisting small and medium-sized companies.”

□ After the meeting, Chairman Kim toured the fabrication lines of Sewon Precision Industry, a Daegu-based firm specializing in automobile frames, and added, “Korean cars are succeeding in the global market because of the technological prowess of our components manufacturers. The Bank will provide all the support it can to assist such companies to expand into overseas markets and grow to become Korea’s hidden champions.”

□ Chairman Kim plans to continue visiting regional export companies twice a month as part of his field management philosophy to personally listen to the opinions of each sector, address financing difficulties of regional export companies, and expand financing services tailored to the specific needs of regional specialized industries.