Woori Bank has launched a dedicated loan product to ease exporters’ funding burdens by providing up to a 15 percent increase in facility-loan limits and offering preferential interest rates and foreign-exchange fees.

Woori Bank said on Wednesday it launched the “Woori Export Leading Company Loan” for companies that meet a certain credit rating and have export performance within the past year.

The product was prepared in line with the government’s “four major innovation strategies to drive small and medium-sized enterprise exports.”

If an exporter applies for a facility loan, it can receive an additional loan limit of up to 15 percent. For companies using export credit guarantees from Korea Trade Insurance Corp, the bank enabled branches to offer additional interest-rate preferences.

It also provides preferential treatment for major fees needed for foreign-exchange transactions and export-import operations. Woori Bank explained that it focused on lowering overall financial costs incurred in the export process as well as funding procurement.

Woori Bank plans to identify exporters by region, centered on its BIZ Prime Center network, a nationwide channel specialized for small and medium-sized enterprises, and to expand financial support linked with related institutions.

Park Hwa-geun (박화근), head of corporate sales strategy at Woori Bank, said, “This is a product prepared to reflect exporters’ actual financial demand.” He added, “We will support exporters’ global growth and expand productive finance.”