Korea Trade Insurance Corporation Supports TV Platform Service Exports... First $18 Million Aid to LG Electronics

The Korea Trade Insurance Corporation has decided to provide trade insurance support for the export of LG Electronics' 'TV platform service.'

According to the announcement on August 24, the Korea Trade Insurance Corporation will provide its first trade insurance of 18 million dollars to support the export of LG Electronics’ TV platform service.

Youngjin Jang, President of KEXIM

The TV platform service is a business that can generate new revenue streams by advertising online video service (OTT) brands on the TV platform screen after TV sales and collecting fees. LG Electronics is expanding its differentiated business model through TV platform services in response to intensifying competition, such as the catch-up of Chinese TV manufacturers.

This support marks the first case of assisting the export of a TV platform service. In addition to its existing hardware exports, LG Electronics will now be able to comprehensively hedge against the risk of uncollected payments for OTT brand and content advertising services through trade insurance.

Youngjin Jang, President of the Korea Trade Insurance Corporation, stated, "Service exports are a future growth engine that creates high added value," adding, "We will further enhance the competitiveness of our companies through tailored support that responds to the evolving forms and structures of exports."

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