Korea Eximbank, Gangwon Province launch joint financing push for K-food exporters
The Export-Import Bank of Korea (Korea Eximbank) is expanding financial support for food exporters in Gangwon Province as part of a broader push to help companies outside the Seoul metropolitan area enter overseas markets, the state-run lender said Monday. The initiative’s first beneficiary is Sejun F&B, a rice-based food manufacturer located in Hongcheon, Gangwon Province. A maker of convenience…
The Export-Import Bank of Korea, known as Korea Eximbank, is teaming up with Gangwon Province to provide financial assistance to food exporters based in the region, according to the state-run lender's announcement on Monday. This collaborative effort aims to bolster companies outside of Seoul that seek to penetrate international markets.
The first recipient of this initiative is Sejun F&B, a rice-based food manufacturer situated in Hongcheon, Gangwon Province. This company specializes in convenience foods like rice cakes and "nurungji" (scorched rice) and is actively working on establishing its own brand to expand its reach globally.
Hwang Ki-yeon, the CEO of Korea Eximbank, personally toured Sejun F&B's production facilities on Friday, demonstrating the bank's commitment to supporting the overseas growth of regional K-food businesses. This partnership was formalized through a memorandum of understanding (MOU) signed last month between Korea Eximbank and the Gangwon Provincial Government.
Under this agreement, the bank offers participating companies loans at preferential rates, while the province reimburses the bank for a portion of the reduced interest rate.
As rice-based food exports have been steadily increasing over time, this joint financing push by Korea Eximbank and Gangwon Province is expected to further stimulate the growth of K-food exporters in the region.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
