The Export-Import Bank of Korea and the Center for Creative Economy and Innovation in Seoul have joined forces to support start-ups to become global exporters in the fields of cosmetics, biotechnology, fashion and food.

The state-run export financing bank said in a press statement Monday that it would provide financial consulting to Korean start-ups developing their businesses in those fields. The innovation center will do its part, and help and recommend start-ups to the Korea Eximbank for financial support.

The two sides signed a memorandum of understanding at the center in downtown Seoul.

The start-up incubating center was launched in Seoul in July last year with the support from the Seoul government and CJ Group.

“The bank will financially support start-ups in the fields of cosmetics, biotechnology and fashion that could further boost Korean exports and create jobs,” said Moon June-shik, executive director of the Korea Eximbank at a ceremony in Seoul.

The government has been establishing a number of innovative and incubating centers for start-ups across the country in an effort to develop a creative economy to seek new growth in information, communication, content and technology.

By Park Hyong-ki (hkp@heraldcorp.com)