Samsung SDS Expands Support for Small and Medium-sized Export Companies with Cello Square
+ To partly support the loan guarantee fees for clients using the “Cello Square” service
+ To offer preferential guarantee fee rates and loan interest rates through business partnership with KODIT, KIBO and IBK
+ To hold various promotions for securing new clients such as the support for Amazon sellers
On January 20, Samsung SDS announced that it will offer partial support for small and medium-sized export companies that are using its “Cello Square” service in regards to the guarantee fee that the companies pay to receive loans from the Industrial Bank of Korea (IBK).
Cello Square is a digital freight forwarding service offered to support the overseas logistics of small and medium-sized export companies. It allows the companies to directly handle the entire logistics process from quotation and contract to shipping, tracking and account settlement with much convenience.
Samsung SDS signed a business partnership with Korea Credit Guarantee Fund (KODIT), Korea Technology Finance Corporation (KIBO), and IBK, and agreed to provide partial support on the guarantee fee paid by its clients using the Cello Square service (1.0% of the guaranteed amount, up to KRW 3 million).
Guarantee fee refers to the expense paid by companies to KODIT/KIBO for the issuance of letter of guarantee that is necessary to receive loans from financial institutions.
KODIT/KIBO will offer a partial deduction on the guarantee fee rate for the client companies, and IBK will additionally give a 1.0%p discount on the interest rates applied to them after the issuance of letter of guarantee.
Recently, Samsung SDS has been carrying out various marketing activities to promote the Cello Square digital logistics service to small and medium-sized Korean export companies, including the promotion for Amazon sellers and the financial benefits offered through partnerships with financial institutions.
Kooil Oh, Senior Vice President and Leader of Logistics Business Division at Samsung SDS, said, “We hope this business partnership will serve as a valuable opportunity for small and medium-sized export companies to enjoy digital logistics service as well as financial benefits through Cello Square.”