-  42 companies finally selected after open recruitment last April; Launch ceremony held for“Export Growth Plant It”program   

- Exceptional benefits including financing support, insurance, and guarantee fee discounts to facilitate growth into leading global enterprises.

■ The Korea Trade Insurance Corporation (K-SURE) has announced that it held the launch ceremony for the “Export Growth Plan It” Program at the Westin Chosun Hotel in Seoul on the 8th (Monday) to nurture domestic SMEs into global exporters. 

○ The event marks the official start of the program aimed at supporting domestic SMEs with outstanding technological capabilities to enter overseas markets and grow into leading global enterprises. 

○ A total of 42 member companies, which had been selected through a professional deliberation process following an open recruitment in April, attended the ceremony to commemorate their selection and shared future action plans. 

■ The event was attended by distinguished guests including Chairman and President of K-SURE Jang Young-jin, Head of Trade Negotiation of the Ministry of Trade, Industry and Energy Jung In-kyo, Executive Vice Chairman of the Korea Federation of SMEs Jung Yoon-mo, and Executive Vice Chairman of the Korea Federation of Middle Market Enterprises Lee Ho-joon, who celebrated for the selected companies and pledged strong institutional cooperation to help them become global export leaders.  

○ Park Jung-byung, CEO of DRGEM Corp., a manufacturer of  diagnostic radiography systems, expressed gratitude, stating, “K-SURE’s financial support and trade insurance were instrumental in ensuring stable financing and exploring new export markets. 

○ Through the “Export Growth Plan It” program, we will work tireless to accelerate our overseas expansion efforts, thereby enhancing our global export competitiveness.“

■ The “Export Growth Plan It” program provides various benefits through three-tiered segmented customized support for the selected companies based on their export volume including 1) the special limits for export credit guarantees 2) insurance and guarantee fee discounts of up to 90% and 3) credit research fee exemption and customized consulting for 30 overseas companies annually.  

· Emerging Star: Annual exports of USD 1 million and below

· Rising Star: Annual exports of USD 30 million and below 

· Shining Star: Annul exports exceeding USD 30 million 

○ The program will also offer more generous benefits, including the special limits for export credit guarantees of up to KRW 10 billion per company, and expanded guarantee coverage ratios from 90% to 100%, in order to help the companies secure financing without a hitch.

○ The selected companies will also enjoy free credit research service for up to 30 overseas companies annually, as well as K-SURE’s insurance and guarantee programs at up to 90% discounted price 

■ Chairman and President of K-SURE Jang Young-jin, stated, “It is deeply meaningful to see 42 member companies, selected through a rigorous evaluation process, come together to reaffirm their shared commitment to becoming global export leaders. 

○ I sincerely hope that the ”Export Growth Plan It“ Program  serves as a stepping stone for companies with excellent technology and growth potential to strengthen industrial competitiveness and expand their global trade footprint.”