Seoul Guarantee Insurance, Partnership Agreement for Digital New Deal Activation as a Caring Company

Seoul Guarantee Insurance announced on the 28th that it signed a business agreement at its headquarters in Jongno-gu, Seoul, with the Ministry of SMEs and Startups and the MainBiz Association (Korea Management Innovation Small and Medium Business Association) to support the activation of the digital new deal economy and innovative growth.

[Asia Economy Reporter Oh Hyung-gil] Seoul Guarantee Insurance announced on the 28th that it signed a business agreement at its headquarters in Jongno-gu, Seoul, with the Ministry of SMEs and Startups and the MainBiz Association (Korea Management Innovation Small and Medium Business Association) to support the revitalization of the digital new deal economy and innovative growth.

Through this agreement, Seoul Guarantee plans to expand financial support for digital new deal-related projects and innovative small and medium enterprises. First, it will supply a new loan guarantee product for companies adopting smart services under the Ministry of SMEs and Startups, with an annual limit of 10 billion KRW.

For companies that have completed smart service implementation, the guarantee limit will be increased up to 3 billion KRW, and the performance guarantee insurance premium will be reduced by 10%. Through this, a total guarantee of 65 billion KRW will be provided for digital new deal projects.

For management innovation SMEs selected by the MainBiz Association, the guarantee limit will be additionally expanded by 1.9 trillion KRW, and for performance and licensing guarantee products, a special unsecured guarantee of up to 500 million KRW will be provided.

Along with this, an education infrastructure support project will be promoted to foster talent, which is a core competency for the growth of small and medium enterprises.

Kim Sang-taek, CEO of Seoul Guarantee, said, "I am very honored to be able to contribute to the digital new deal project through this agreement," and added, "We will do our best to ensure the success of the Korean New Deal through financial support for the innovative growth of small and medium enterprises."