(Re)in Summary
- K-Sure will provide US$18m in trade insurance to support LG Electronics’ exports of TV platform services.
- The deal marks the state-backed insurer’s first insurance cover for service exports linked to a TV platform business.
- The insurance protects LG Electronics against the risk of failing to collect service fees from overseas customers.
The Korea Trade Insurance Corp (K-Sure) will provide US$18m in trade insurance to support LG Electronics’ exports of TV platform services, marking its first insurance cover for exports tied to a television platform business, the company said, according to local reports.
The move aligns with the state-backed insurer’s efforts to broaden support beyond conventional merchandise exports, as Korean companies generate more revenue from digital and platform-based services.
LG Electronics’ TV platform business earns revenue after the sale of smart TVs by displaying over-the-top (OTT) streaming brands and content advertisements through its proprietary TV platform. The company has been expanding the business as it looks to differentiate itself in an increasingly competitive global television market.
Under the arrangement, K-Sure will insure LG Electronics against the risk linked to the collection of service fees from overseas clients, including payments related to OTT brand placements and content advertising on its smart TV platform.
K-Sure said the coverage gives LG Electronics a wider export safety net that now extends beyond its conventional hardware exports to its growing portfolio of platform services.
The insurer added that the initiative is intended to help Korean companies build new, high value-added revenue streams.
“Service exports are a future growth engine capable of creating high added value,” K-Sure President Jang Young-jin said in a statement. “We will further enhance the competitiveness of Korean companies by providing customised support in response to the changing forms and structures of exports.”
The deal forms part of K-Sure’s broader push to expand support for Korean exporters. Earlier this year, President Jang said the state-backed insurer would provide a record KRW275 trillion in trade insurance in 2026, including KRW114 trillion earmarked for small and medium-sized enterprises.
