Credit Guarantee Fund, 44th Anniversary... "Guarantee Scale Expanded to 25 Trillion Won This Year"

Leading the Resolution of Liquidity Crisis for SMEs through Active Policy Financial Support

[Asia Economy Reporter Ki Ha-young] The Korea Credit Guarantee Fund (KODIT) announced on the 1st that it held its 44th anniversary founding ceremony at its Daegu headquarters. The event was conducted via a non-face-to-face video conference to prevent the spread of the novel coronavirus disease (COVID-19).

During the event, KODIT reflected on its past achievements, shared its role in the national economic crisis, and discussed the direction KODIT should take in the post-COVID-19 era. Additionally, through the 'Integrity Campaign' conducted for executives and employees, the commitment to anti-corruption and integrity was strengthened.

KODIT was established on June 1, 1976, to support small and medium-sized enterprises (SMEs) that were in the blind spots of government support during a period of rapid economic growth centered on large corporations. It has played a stepping stone role in supplying funds to SMEs lacking collateral and has been recognized for faithfully serving as an economic safety net during economic crises such as the IMF foreign exchange crisis and the global financial crisis.

In particular, this year, from the early stages of the COVID-19 outbreak, KODIT promptly activated various crisis response programs such as the 'Special Guarantee for SMEs Affected by COVID-19' to provide swift support. KODIT plans to increase the guarantee scale by 25 trillion won compared to the original plan this year to supply sufficient liquidity to companies experiencing temporary financial difficulties.

Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund, said, "KODIT, with its DNA of overcoming crises, will devote all its efforts to saving companies so that it can be a strong pillar of the Korean economy."