At the signing ceremony, Hana Bank Executive Director for Foreign Exchange Business Division Jeong-hyun Lee (이정현) (left) poses for a photo holding the agreement with KOTRA Vice President Sang-yeop Kang (강상엽) (centre) and Korea Trade Insurance Corp Vice President Jin-wook Jang (장진욱) (right). [Photo: Hana Bank]

Hana Bank will work with the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Trade Insurance Corp to support small and midsize exporters' entry into overseas markets.

Hana Bank said on May 12 it signed a business agreement with KOTRA and the Korea Trade Insurance Corp on May 11.

The agreement was designed to support small and midsize exporters struggling due to uncertainty in the external economy in entering overseas markets.

Hana Bank plans to provide financial benefits to companies participating in KOTRA's overseas branch programme, including special preferential treatment for export-package preferential financing linked to guarantee products, support for short-term export insurance premiums, and preferential foreign-exchange fees and exchange rates.

Under the export-package preferential financing programme, it will support 100 percent of guarantee fees for the first year and expand the support limit for export credit guarantee fees to 50 million won from 20 million won.

Jeong-hyun Lee (이정현), an executive director in Hana Bank's foreign exchange business division, said, "We will continue practical financial support to strengthen global competitiveness."

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#Hana Bank #KOTRA #Korea Trade Insurance Corp #Export package preferential financing
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