Export-Import Bank of Korea and aT Join Forces to Boost K-Food Exports and Overseas Expansion

Support Linking Export Financing and Overseas Distribution Networks

The Export-Import Bank of Korea and the Korea Agro-Fisheries & Food Trade Corporation (aT) have joined forces to strengthen the global competitiveness of K-Food and expand its entry into overseas markets.

According to the Export-Import Bank of Korea on June 21, Hwang Kiyoun, President of the Export-Import Bank of Korea, and Hong Moonpyo, President of aT, signed a Memorandum of Understanding (MOU) on June 19 at the Export-Import Bank’s headquarters in Yeouido, Seoul, to promote the export and overseas expansion of K-Food.

Under this agreement, the two institutions will pursue: ▲joint support for export financing ▲linking the Export-Import Bank's relending program with aT's overseas distribution network development projects ▲collaboration and information sharing through the K-Food One-Stop Export Support Hub, among other initiatives.

First, they plan to jointly identify K-Food companies in need of export financing and respond to diverse financial needs by connecting the support systems of both institutions.

In addition, they will actively link aT's overseas distribution network development projects—such as participation in international food exhibitions, global K-Food fairs, and export consultation meetings inviting overseas buyers—with the Export-Import Bank’s relending program, to support Korean food companies’ entry and market expansion in emerging markets such as Central Asia and Latin America. The relending program refers to a system in which funds are supplied to overseas companies importing K-Food through local banks.

The Export-Import Bank of Korea will also participate in the 'K-Food One-Stop Export Support Hub' operated by aT. Through this, the Bank plans to actively utilize its mutual growth financing programs and other initiatives to resolve financial challenges faced by K-Food companies in exporting and overseas business operations.

President Hong Moonpyo said, "In today’s rapidly changing international trade environment, the organic connection between finance and export infrastructure is the key to market expansion," adding, "Through our partnership with the Export-Import Bank, we will further expand the export territory of our agricultural and food products."

President Hwang Kiyoun stated, "A tailored support platform has been established by linking the financial and export support experience of the two institutions," and added, "We will work to discover promising small and regional export companies and promptly resolve export challenges, thereby helping to build the agro-fisheries food export ecosystem."

Meanwhile, over the past five years, the Export-Import Bank of Korea has provided more than 2 trillion won annually to expand K-Food exports. In March this year, it announced plans to supply 28 trillion won in policy financing over the next five years to foster industries such as K-Food and K-Culture, and is currently offering special preferential interest rates to small and medium-sized enterprises as well as mid-sized companies.

This content was produced with the assistance of AI translation services.