Korea Exchange Bank (KEB) has cut an exclusive deal with Korea Export Insurance Co. (K.E.I.C) to provide a hassle-free service dubbed 'Auto-Link Export Insurance Service' that enables exporters to sign up for 'Export Credit Guarantees (after shipment)' at a KEB branch in negotiating a bill of exchange including L/C, D/P and D/A. That does not require exporters to visit KEIC to sign up for the insurance as they can do it at a nearby branch without the presentment of the documents required.
In addition, those companies selected as 'Prior Support Company', can get a 10 percent discount on the insurance premium.
What is Export Insurance?
Here in this context, 'Export Insurance' includes 'Export Credit Guarantees (after shipment)' and 'Short-term Export Insurance' (a tied* insurance).
* Tied Insurance: An exporter should sign up for 'Short-term Export Insurance' in signing 'Export Credit Guarantees (after shipment)'.
How-to-sign-up for Auto Link Export Insurance Service.