KAMCO Launches Second Application Period for Corporate Asset Sales Support Program

Second Application and Registration from the 29th
Assets of First Applicants to be Supported Sequentially from October

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) will begin the second round of applications and submissions for the 'Corporate Asset Sale Support Program' starting from the 29th, following the first round which closed in August.

In this second round, companies can newly apply for asset sales or existing applicants can request additional support for other assets. Furthermore, assets that were notified as excluded from support in the first round may reapply during this submission period if the reasons for exclusion have been resolved or remedied. In such cases, support will be considered through a re-evaluation process taking into account the effectiveness of the support.

Detailed information on eligibility requirements and exclusion criteria can be found on the On-Gieop (On-Company) website. If the asset applied for falls under exclusion criteria considering the purpose and operational efficiency of the support, individual notifications will be provided and submissions may not be accepted.

KAMCO received applications for the 'Corporate Asset Sale Support Program' from a total of 46 companies (17 large enterprises, 5 mid-sized companies, and 24 small and medium enterprises) through the On-Gieop website from July 17 to August 20, concluding the first round.

To ensure fair program operation, KAMCO established operational standards, support screening criteria, acquisition and price evaluation standards through the ‘Support Screening Target Selection Committee (Selection Committee)’ and the ‘Corporate Asset Sale Support Screening Committee (Screening Committee)’ composed of external experts. Currently, the selection process for ‘support screening targets’ is underway through the Selection Committee’s review and resolution for the first round applicants. Selected assets will undergo external evaluations by accounting firms for acquisition price proposals, and from October, the Screening Committee will make the final decision on support eligibility.

Moon Sung-yoo, President of KAMCO, stated, “Since the program’s launch, we have held weekly meetings over the past two months to ensure that applicant companies receive timely support,” adding, “KAMCO will select support targets by balancing applicant companies and asset types based on the core principles of urgency, effectiveness, and fairness.”