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Busan Expands Financial Support, Including 100% Export Credit Guarantee Fee Coverage — Boosting the Vitality of Small Exporters

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The Busan Metropolitan City (Mayor Park Heong-joon) is expanding its financial support for small and medium-sized enterprises (SMEs), including full coverage of export credit guarantee fees, to help reduce risks and strengthen the competitiveness of local exporters.

In the face of escalating uncertainty in global trade, the city is implementing a wide range of trade support policies centered around export financing, aiming to revitalize the local economy and achieve sustainable growth.

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Key Programs

1. Export Insurance and Credit Guarantee Fee Support

Busan has allocated 1 billion KRW in its second supplementary budget this year for these two programs:

• ●Export Insurance Fee Support:

• ○Eligibility: SMEs based in Busan with annual export volume under USD 10 million (approx. 14 billion KRW).

• ○Coverage: Up to 2 million KRW per company for both individual and group export insurance premiums.

• ●Export Credit Guarantee Fee Support:

• ○Eligibility: All SMEs based in Busan, regardless of export volume.

• ○Coverage: Up to 4 million KRW per company.

• ○Improvement: The city raised the coverage from 60% (up to 3 million KRW) to 100%, easing risk of unpaid export receivables and enhancing business liquidity and stability.

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2. Global Export Star Business Development Program

A step-by-step customized support package is offered to 40 selected local SMEs with annual revenue under 5 billion KRW.

• ●Support includes: consulting, training, certification acquisition, and up to 20 million KRW per company.

• ●Goal: Help businesses grow from beginners to promising exporters to globally competitive firms.

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3. Export Market Diversification & Digital Trade Expansion

• ●Overseas Exhibitions and Trade Missions:

• ○Focused on the Global South, the city plans to dispatch trade delegations and support businesses’ participation in international exhibitions, covering airfare, booths, and interpretation services.

• ●Support for Online Platforms:

• ○Assists SMEs lacking digital capabilities in entering global platforms like Amazon and Alibaba to promote non-face-to-face exports.

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4. Training Trade Professionals

The city also runs education programs in international marketing and trade practices to cultivate export specialists in the region.

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Since April, the city has operated the “Busan Emergency Export Countermeasures 2.0”, providing:

• ●100 billion KRW in emergency working capital for SMEs

• ●3 billion KRW in export vouchers

• ●4.5 billion KRW in overseas logistics support

• ●Support for global certifications and IP rights in markets including China and ASEAN

Through on-site support teams and multiple policy briefings, the city has actively listened to exporters and addressed their administrative and financial difficulties.

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Kim Bong-cheol, Director of the Busan Digital Economy Bureau, stated:

“Expanding financial support at a time of global trade crisis will significantly boost local companies’ export competitiveness.
We will continue to discover and implement practical, field-oriented export support policies to ensure that local SMEs can grow resilient and thrive in global markets.”

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[Appendix 1] Summary of Export Insurance & Credit Guarantee Programs

Program	Eligibility	Coverage	Provider
Export Insurance	SMEs in Busan with < USD 10M exports	Up to 2 million KRW	Korea Trade Insurance Corporation
Export Credit Guarantee	All Busan-based SMEs	Up to 4 million KRW (100% coverage)	Korea Trade Insurance Corporation

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[Appendix 2] Global Export Star Program Summary

• ●Target: 40 SMEs under 5 billion KRW revenue

• ●Support: Step-by-step export capacity building including consulting, certifications, training

• ●Support Scale: Up to 20 million KRW per company

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[Appendix 3] Major Trade Promotion Projects in 2H 2025

(Selected events below; full list available on request)

Overseas Exhibitions:

• ●Japan (Tokyo Gift Show), Vietnam (Food Expo), India (Shipbuilding Expo), Germany (Munich Handicrafts), etc.

Trade Missions:

• ●ASEAN, China, Japan, Central Asia, Middle East, etc.

Online Trade Platforms:

• ●Amazon.com, Alibaba.com onboarding and digital marketing

Education & Export Capability Building:

• ●Export One-Stop Center, Export Vouchers, Certification Support, Trade Marketing Education