Gov`t to expand insurance support for China-bound exports

SEOUL, March 18 (Yonhap) -- The government will expand its export insurance for
China-bound shipments as part of an effort to bolster sagging sales in the
world's third-largest economy, officials said Wednesday.
The government will provide 20 trillion won (US14 billion) worth of export
insurance for shipments to the mainland this year, up 30 percent from a year
earlier, according to the Ministry of Knowledge Economy.
The increase comes as exports to the nation's largest trading partner are
expected to drop 19 percent this year from a year earlier amid a global economic
slowdown, the ministry said. Export insurance is critical for many companies
since it helps cover possible losses related to overseas trade.
kokobj@yna.co.kr
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