Ksure to expand its insurance program to smaller companies

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Ksure to expand its insurance program to smaller companies

Korea Trade Insurance Corporation said yesterday that it will expand its small- and midsize-company insurance program to enterprises that make less than $5 million in exports per year.

Later this year, the state-run trade insurance company will cover up to 95 percent of trade damages. About 3,000 export companies are estimated to benefit from the renewed program, the company said.

Under the program, affiliated export associations as well as the regional governments whose jurisdiction they are based in will take care of monthly insurance costs.

Mid-size companies that experience a loss can receive up to 90 percent, or $300,000 in compensation. Small enterprises can receive up to 95 percent, or up to $100,000.

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