- To introduce foreign exchange risk insurance and upload related videos on its website and social media pages.
- To run its consulting program on foreign exchange risk management for small and medium-sized exporters.


■ Korea Trade Insurance Corporation (K-SURE, www.ksure.or.kr) held 「K-SURE Online Foreign Exchange Forum」 during the 32nd '’SME Business Week*’.

* According to Article 26 of the Basic Act on Small and Medium Businesses, every third week of May is designated as the ‘SME Business Week’. Every year, it celebrates the week by holding various events.

○ Since 2008, K-SURE has held Foreign Exchange Forum on a regular basis and has given exchange rate forecasts and consulting on foreign exchange risk management to small and medium-sized exporters.


■ This year, for the first time, the forum was held online as part of an ongoing effort to keep ‘social distancing’, preventing the spread of Covid-19.

○ K-SURE delivered lectures on ‘Where the foreign exchange market trends and exchange rate would go after the outbreak of Covid-19’ by KB Kookmin Bank’s foreign exchange expert. Also, K-SURE introduced foreign exchange risk insurance, one of SME’s essential methods to manage foreign exchange risks.

- Foreign exchange risk insurance hedges against losses from foreign exchange risks. K-SURE compensates the losses of policy holders’ foreign exchange losses or claws foreign exchange gains back.

○ The videos taken during the forum were uploaded on the website of K-SURE’s Foreign Exchange Risk Management Support Center and on its official YouTube and Instagram pages.


■ For notching-up of customer convenience, K-SURE has offered its consulting service on foreign exchange risks management system for SMEs not only through offline but also through online.

○ In the survey conducted in March, this year on the actual status of foreign exchange risk management, respondents said they are highly interested not only in the foreign exchange forum itself but also in foreign exchange risk management consulting services.

○ Accordingly, K-SURE will continue to expand non-contact consulting services to help strengthen SME exporters’ capability to hedge foreign exchange risks.


■ Mr. Inho Lee, Chairman and President of K-SURE, said, “We held the first online forum for small and medium-sized exporters who were unable to attend offline event due to the Covid-19.”

○ He added, “We will work hard to contribute to enhancing export vitality by providing non-contact consulting on foreign exchange risk management and customized services for SMEs.”


【 K-SURE’s online Foreign Exchange Forum 】