Korea Eximbank, Gangwon Province launch joint financing push for K-food exporters

The Export-Import Bank of Korea, known as Korea Eximbank, has launched a joint financing initiative with Gangwon Province to support food exporters from the region. This move is part of a broader strategy to assist companies outside Seoul in entering overseas markets. The program's inaugural beneficiary is Sejun F&B, a rice-based food manufacturer situated in Hongcheon, Gangwon Province.

Sejun F&B specializes in convenience foods such as rice cakes and "nurungji," which are rice that has been scorched and processed in a specific way.

Korea Eximbank's CEO, Hwang Ki-yeon, visited Sejun F&B's production facilities on Friday to underscore the bank's commitment to aiding regional K-food businesses in expanding their international presence. The partnership between Korea Eximbank and the Gangwon Provincial Government was formalized in a memorandum of understanding (MOU) signed last month.

Under this agreement, the bank offers participating companies loans at preferential rates, while the province reimburses the bank for a portion of the interest-rate reduction.

This initiative is timely, as exports of rice-based foods have been on a steady growth trajectory. The collaboration between Korea Eximbank and Gangwon Province underscores the commitment to bolstering the export capabilities of regional food producers, thereby contributing to the overall economic development of the province.