To Help Korea Ride the Wave of 4th Industrial Revolution
The Export-Import Bank of Korea (Korea Eximbank) plans to provide 9.50 trillion won (US$8.32 billion) in loans to “innovation-based growth industries” this year.
Eun Sung-soo, the bank’s president said on April 10, “We will extend 1 trillion won (US$876.65 million) more than last year to innovation-based growth firms in order to help the nation ride the wave of the Fourth Industrial Revolution.” He disclosed the plan during his visit to Power Logics Co., which is located in Cheongju, North Chungcheong Province.
In August last year, Korea Eximbank selected 338 items in five sectors, including service, new energy, information and communication technology (ICT), future transportation and promising consumer goods, as “innovation-based growth industries” to give them preferential treatment in terms of interest rate and amount of loans.
Meanwhile, Power Logics is a mid-size exporter which supplies camera modules for smartphones and protection circuits of secondary batteries to Samsung Electronics Co. and LG Chem Ltd.