Export-Import Bank of Korea (Suwon branch) is expected to open on March 16. 

From the total number of businesses in Korea, 30% of small and medium enterprises (31,077) and 19.2% of trading firms (16,648) are located in Gyeonggi-do (based in ’03), and actual export records holds 18.7% (36.3 billion won) from Korea’s total export records (highest national record since 2000), the Gyeonggi province takes to role of towing Korea’s export. 

Till now, enterprises located in Gyeonggi-do had to visit Seoul and Incheon branches of the Export-Import Bank of Korea (EXIM) to receive long-term, low-interest loans to export capital goods such as industrial equipment, machinery and so on. The establishment of a Suwon branch will not only ease inconveniences but also curtail expenses, reduce time and solve many company needs. 

* The Export-Import Bank of Korea (since July of ’76) is a public financial institution established by special law. Main office is located in Seoul and currently has 7 branches established in Korea. EXIM financially supports long-term, low-interest loans to small and medium enterprises in need for manufacture and export purposes. 

Example) Export company A located in Pyeongtaek visits the Seoul branch once a month and annual expense of 2 million won had to be paid. But the Suwon branch will reduce time and money up to 50%. 

* Establishment of new branches is the reward of Gyeonggi-do’s efforts 

With local economic groups in the province (Chamber of Commerce and Industry, Federation of Economic Organization, etc.), the Gyeonggi-do government has continuously proposed on establishing an Gyeonggi branch to related organs, Office of the Prime Minister and the Ministry of Finance and Economy, since ’99. 

Hak-gyu Sohn, governor of Gyeonggi-do has visited Minister of Finance and Economy last January 9, and explained the necessity for establishing a new branch in Gyeonggi-do and asked for a the installment as soon as possible.