[By NBC-1TV H. J Yook]Citibank Korea, Inc.(CEO Ha Yung Ku, www.citibank.co.kr) announced that it held ‘the trade financing Seminar for corporate customers’ at the Citicorp building, Seoul on April 18th. A representative from Citi in charge of exports/imports was invited to lead the seminar.

Held every year since 2010, this seminar also included the information session on the International Standard Banking Practices (ISBP) that was updated by the ICC. Led by Yong-Hyuk Jeung as a member of ISBP consulting group appointed by ICC, the talk was notable in its focus on the ISBP and other contents that are crucial to day-to-day export/import work. Moreover, by introducing various export AR financing products without recourse, there was the double effect of learning about how businesses can reduce trade receivables on their books as well as learning how to improve one’s financial statements.

A representative from Citi commented that 70 or so people from large conglomerates such as Hyundai and SK, as well as those from small and middle-sized businesses, attended the seminar. He also said that “due to the seminar’s in-depth coverage of the newly updated ISBP along with other useful information on carrying out daily export/import tasks, it was held in very high regard by the participants”.