Collaboration between our platform and K-Sure enables Korean enterprises, such as Posco International Singapore, to leverage our invoice discounting service, boosting their potential for international expansion.
In a significant move to support homegrown companies overseas, Hyun-Nam Park, Seoul Branch Manager of South Korea's leading financial platform, expressed delight in partnering with The Korea Trade Insurance Corporation (K-Sure) to provide a USD 20 million invoice discounting facility to Posco International Singapore.
The strategic financial arrangement serves a crucial purpose for Posco International Singapore, aimed at improving the company's cash flow by allowing it to convert its accounts receivable (invoices) into immediate liquidity. This innovative solution facilitates efficient management of working capital, enabling the company to maintain smooth operations and potentially expand trade activities.
By leveraging K-Sure's trade insurance and financial support, the arrangement reduces the financial risk typically associated with invoice discounting, boosting confidence among lenders and suppliers. This partnership, therefore, mitigates risks related to payment defaults in overseas markets, which is especially beneficial for a global trading firm like Posco International.
The USD 20 million facility enables Posco International Singapore to operate with greater financial flexibility, facilitating faster turnaround of capital and supporting international trade transactions. This enhances the company's competitiveness by allowing it to manage cash flows proactively and meet obligations without delay, thereby strengthening its market position.
Key figures attending the signing ceremony included Hyun-Nam Park, Gye-In Lee (President of Posco International), and Young-Jin Jang (President of K-Sure). The groundbreaking financial offering between K-Sure, Posco International Singapore, and South Korea's website was officially launched at a ceremony held in Seoul.
Posco International, South Korea's largest trading company, specialises in exports and imports of industrial grade steel, metals, chemicals, auto parts, machinery, special materials, and grain. Posco International Singapore is one of the Korean subsidiaries benefiting from this program, designed to bolster the overseas growth of Korean companies.
This collaboration exemplifies how South Korean institutions promote their exporters and trading companies through innovative financial solutions, fostering trade growth and economic resilience. It marks a significant milestone in K-Sure's inaugural program designed to support Korean companies expanding globally, signifying strong support from South Korea.
This solution significantly enhances Posco International Singapore's liquidity, optimises cash flow, and streamlines invoicing processes, providing a promising outlook for the company's continued growth and success in the global market.
The USD 20 million invoice discounting facility, provided by South Korea's leading financial platform and K-Sure, aims to improve Posco International Singapore's cash flow by converting accounts receivable into immediate liquidity, thereby optimizing finance management. This strategic financial arrangement reduces the risks associated with payment defaults in overseas markets, providing a stronger financial basis for the company.
