South Korea’s Ministry of Trade, Industry and Energy and the Financial Services Commission will provide 16 trillion won (approximately US$1.065 billion) in mutually beneficial trade finance to support the shipbuilding industry and small and medium-sized export enterprises. This public-private partnership brings together major South Korean shipbuilders, commercial banks, and policy-based financial institutions, aiming to accelerate the stabilization of the shipbuilding supply chain and enhance export competitiveness.
According to South Korean media reports, the Ministry of Trade, Industry and Energy and the Financial Services Commission recently held a signing ceremony for a mutually beneficial growth trade finance agreement, announcing that the scale of the mutually beneficial growth trade finance program will be expanded to 16 trillion won. Representatives from major shipbuilding companies such as HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries attended the ceremony.
Specifically, the South Korean government, major shipbuilding companies, and the financial sector will launch a 1 trillion won (approximately US$666 million) shipbuilding supply chain guarantee program to enhance the export competitiveness of South Korea’s shipbuilding industry and stabilize the supply chain.
Hanwha Ocean and Woori Bank, as well as Samsung Heavy Industries and Shinhan Bank, will each contribute 21.3 billion won, injecting a total of 42.6 billion won in new funds into the Trade Insurance Fund. In January 2026, HD Hyundai Heavy Industries and Hana Bank agreed to contribute 5 billion won and 23 billion won, respectively. With these contributions, Korea Trade Insurance Corporation plans to provide a total of 1 trillion won in trade financing to marine equipment suppliers and partner companies.
As a result, partner companies can apply for preferential loans with terms of up to three years, with interest rates reduced by up to 2.5 percentage points; guarantee fees have been lowered to approximately 0.7%, and guarantee limits have been expanded. South Korea expects that this measure will help alleviate the financial burden on small partner companies and enable major shipbuilders to secure a stable supply chain for equipment.