Korea Eximbank, Gangwon Province launch joint financing push for K-food exporters

The Export-Import Bank of Korea (Korea Eximbank) is expanding financial support for food exporters in Gangwon Province as part of a broader push to help companies outside the Seoul metropolitan area enter overseas markets, the state-run lender said Monday. The initiative’s first beneficiary is Sejun F&B, a rice-based food manufacturer located in Hongcheon, Gangwon Province. A maker of convenience foods including rice cakes and “nurungji” (scorched rice), the company is developing its own brand as it looks to build a presence in international markets. Korea Eximbank CEO Hwang Ki-yeon visited the food maker’s production facilities, Friday, as part of the bank’s efforts to support the overseas expansion of regional K-food businesses. Under a memorandum of understanding (MOU) signed last month between Korea Eximbank and the Gangwon Provincial Government, the lender provides participating companies with loans at preferential rates, while Gangwon Province reimburses the bank for part of the interest-rate reduction. The financing comes as rice-based food exports have grown steadily ov