Korea Exim Bank Urged to Expand Productive Finance – SME Federation Chairman Meets with Bank Chief to Relay Field Opinions

SME Federation Chairman, Mr. Jin-sik Choi, met with the head of the Export-Import Bank to emphasize the need for expanding productive finance and conveyed the voices of the field. This meeting was held to directly deliver the opinions of the SME sector to the decision-making of the financial authorities and to explore financial support measures for the growth and development of businesses. Discussions focused particularly on the difficulties of capital access for SMEs and the need to strengthen their innovative capabilities.

Background of the Meeting with the Export-Import Bank

The meeting between SME Federation Chairman, Mr. Jin-sik Choi, and the head of the Export-Import Bank is interpreted as an effort to reflect the voices of the SME sector in financial policy, alongside recent changes in the financial market. Particularly, given the increased difficulty of capital access for SMEs amidst rising interest rates and concerns about economic recession, strengthening communication channels with the financial authorities is being recognized as an urgent task. According to a report by Maekyung, this meeting was held in this context, focusing on delivering the realistic difficulties faced by the SME sector and offering constructive opinions on policy directions.

The Importance of Productive Finance

During the meeting, Chairman Choi emphasized that expanding ‘productive finance’ is a crucial element for the growth and innovation of SMEs. He suggested providing financial services that go beyond simply providing capital, helping with business technology development, overseas expansion, and investment in new ventures. This reflects the current situation where companies are facing difficulties accessing capital and innovative ideas are not receiving adequate investment.

Key Demands of the SME Sector

During the meeting, the SME sector presented the following key demands:

• Easing Capital Access Burden: Capital access should be eased due to rising interest rates, and improved through various financial products to increase accessibility.


• Strengthening Support for Technology Development: Expanding support for technology development funds and providing technology consulting and education programs to strengthen the innovative capabilities of businesses.


• Expanding Support for Overseas Expansion: Expanding financial support for overseas expansion and providing overseas market information and networks to strengthen the global competitiveness of businesses.

Outlook for the Future

It is hoped that this meeting will allow the Export-Import Bank to listen more closely to the voices of the SME sector and actively pursue the expansion of productive finance. Utilizing FireMarkets’ market analysis data to carefully understand the situation of SMEs and the changes in the financial market, and providing information needed for policy decisions is crucial.