Gyeonggi Credit Guarantee Foundation Supports 97.5 Billion KRW in Guarantees for SMEs and Small Business Owners... Agreement with Kookmin Bank

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Credit Guarantee Foundation will provide guarantee support worth 97.5 billion KRW to small and medium-sized enterprises (SMEs) and small business owners in the province.

Gyeonggi Credit Guarantee Foundation announced that on the 29th, it received a special contribution of 6.5 billion KRW from the Kookmin Bank Gyeonggi Central Regional Sales Group at the Gyeonggi Credit Guarantee Foundation meeting room in Yeongtong, Gwanggyo Technovalley, Suwon.

This contribution was prepared to promote regional economic revitalization by expanding financial support for SMEs and small business owners in the province through business cooperation with Kookmin Bank, and to establish a sustainable guarantee support foundation through mutual understanding of the importance of the contribution.

Using this special contribution as a resource, Gyeonggi Credit Guarantee Foundation will provide a special guarantee agreement with Kookmin Bank worth 97.5 billion KRW, which is 15 times the amount of the contribution.

Gyeonggi Credit Guarantee Foundation expects that this guarantee agreement will greatly support SMEs and small business owners affected by last year's African swine fever and the recently occurred Wuhan pneumonia.

The support amount is up to 800 million KRW for SMEs and up to 100 million KRW for small business owners.

Lee Min-woo, Chairman of Gyeonggi Credit Guarantee Foundation, emphasized, "SMEs and small business owners in Gyeonggi Province are facing difficulties due to African swine fever and the recently occurred Wuhan pneumonia," adding, "All employees of Gyeonggi Credit Guarantee Foundation will unite with one heart and one mind to overcome the economic downturn and do their best to revitalize the regional economy."