South Korea’s financial sector supplied 272.3 trillion won ($200 billion) in productive finance through the end of July, while authorities expanded a five-year support target to 1,560 trillion won from 1,240 trillion won. The plan now includes the Export-Import Bank of Korea, Suhyup Bank and Samsung Securities, with private finance accounting for 628 trillion won and policy finance for 932 trillion won. The Financial Services Commission will introduce additional liability exemptions across productive finance to reduce potential losses for institutions financing companies on the basis of technological capability and growth potential. Kwon Dae-young, Vice Chairman of South Korea’s Financial Services Commission, said at the fifth Productive Finance Council meeting at Government Complex Seoul on the 14th that the sector must move beyond collateral- and guarantee-based practices and make productive finance a lasting capability. Financial institutions will publish white papers in December and annual performance reports in May next year, covering definitions, targets, governance, regional initiatives and results. Shinhan Financial Group directed 4.7 trillion won, or about 79% of its 5.9 trillion won corporate-loan growth, to productive-finance lending through July. Woori Financial Group set a five-year target of 90 trillion won and supplied 22.9 trillion won by July, reaching its annual target ahead of schedule. Korea Development Bank approved 17 trillion won through the National Growth Fund by the end of August, including 7.22 trillion won for regional companies, while Industrial Bank of Korea supplied 39.4 trillion won through July, or about 67% of its annual target.