State support for exporters to be widened

[THE INVESTOR] Korea Trade Insurance Corporation will provide more support for South Korean exporters as part of the government efforts to revive ailing exports.

According to the plans revealed by the Korea Trade Insurance Corporation on Aug. 2, local exporters will be given support amounting to 95.2 trillion won (US$85.74 billion) during the second half of the year. Compared to the same period last year, the figure is an increase of 9.6 trillion won.

The support will be provided in the form of larger and wider financial support and aid in entering new markets. The state-run organization will also support local firms in dealing with foreign institutions.

By Choi He-suk (cheesuk@heraldcorp.com)