K-sure chief visits power materials maker, pledges stronger support for overseas operations

Jang Young-jin, president of the Korea Trade Insurance Corporation, said the state-run trade insurer plans to actively support Korean companies so they do not face difficulties in overseas operations due to a lack of financial backing.

Jang visited Samdong Co., a mid-sized manufacturer based in Eumseong, North Chungcheong Province, on Tuesday to hear about challenges the company faces running overseas subsidiaries and to discuss ways to strengthen support, according to K-sure.

Samdong specializes in manufacturing power materials such as copper coils and operates production subsidiaries at key locations across the United States, including Tennessee. The company recently secured $20 million in working capital from a local US lender with the help of K-sure's overseas project finance insurance.

"Thanks to K-sure, we were able to respond in a timely manner to rising power demand in the United States," said Lee I-ju, chief executive of Samdong. "As the power equipment market is expected to consistently expand — driven by growing AI infrastructure investment — active financial support is more necessary than ever."

K-sure has been running a special working capital support program for overseas subsidiaries since June last year to help Korean companies respond to tariffs and stabilize global supply chains. The program allows K-sure to provide subsidiaries directly with both facility funds and working capital.

In April, as demand for overseas subsidiary working capital grew, K-sure expanded the program's total support ceiling from $300 million to $800 million and proactively revised related regulations — including preferential support limits for small and midsize companies that have expanded abroad alongside large conglomerates.

Since the program's launch, K-sure has extended a combined $260 million in working capital to 10 overseas subsidiaries of Korean companies operating in the United States, Vietnam and other countries.