South Korea announces $190bn boost in trade insurance to propel exports


The Ministry of Trade, Industry, and Energy has declared an unprecedented injection of KRW255tn (US$190bn) into trade insurance this year, marking a significant increase of KRW10tn from 2023, as per Pulse News Korea.

Over the span of five years, the scale of trade insurance has surged by approximately KRW100tn, rising from KRW156tn in 2019. Specifically, the government is earmarking KRW50tn in trade insurance for the information technology (IT) sector, encompassing semiconductors, displays, mobile phones, and home appliances.


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Posted on Mar 26, 2024
Region: South Korea
trade credit insurance
exports, K-Sure, Ahn Duk-geun