• Korea Trade Review
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• v.48 no.3
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• pp.89-106
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• 2023

This study is to investigate the problem of credit rating by Korea Trade Insurance Corporation(KSURE) which evaluates overseas buyers in a state of capital impairment as G-grade regardless of the cause of capital impairment. This study classifies capital impairment into two types: deficit-type capital impairment due to accumulated operating losses and surplus-type capital impairment due to shareholder return policies such as dividends and treasury stock buybacks. It is proposed to improve the credit evaluation method on companies with surplus capital impairment from a formal review to a substantive review. This study is expected to improve credit rating of KSURE on overseas buyers for better support of trade credit insurance for exporters.