KOSHA and Credit Guarantee Fund Sign MOU, Expect Loan Guarantee Benefits for Over 20,000 Workplaces
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The era has come where small and medium-sized enterprises (SMEs) practicing ‘safety management’ also receive financial cost benefits.
The Korea Occupational Safety and Health Agency (KOSHA, President Park Doo-yong) and the Korea Credit Guarantee Fund (KODIT, President Yoon Dae-hee) signed a Memorandum of Understanding (MOU) on the 13th for ‘Supporting Excellent Safety Management Activities Companies and Improving Occupational Safety and Health Levels.’
This agreement was prepared to help the stable management activities and growth of SMEs that excel in safety management.
SMEs recognized by KOSHA for excellent safety management activities will receive preferential treatment on guarantee ratios and benefits such as guarantee fee reductions when applying for guaranteed loans.
It is expected that up to 20,000 workplaces annually, including companies participating in the Occupational Safety and Health Co-prosperity Program or recognized in risk assessments, will benefit.
The target companies include those recognized in risk assessments, companies judged suitable in technical capability and production system verification audits, participants in the Occupational Safety and Health Co-prosperity Program, companies certified with the KOSHA Management System (KOSHA-MS), companies participating in safety incubating, and winners of the Safety New Technology Startup Contest.
These companies will receive preferential treatment such as an expanded guarantee ratio (up to 100%) and a reduction in guarantee fee rates (0.2%p discount) for the first three years, reducing their financial cost burden.
When SMEs apply for a guarantee at KODIT, KODIT will verify and review whether the company is certified for safety management activities through KOSHA, then issue a guarantee certificate to the company. Afterwards, the company can receive financial benefits from financial institutions using the guarantee certificate.
For detailed information, consultations can be obtained by visiting the KODIT website or the nearest KODIT branch office.
Park Doo-yong, President of KOSHA, said, “The purpose is to support stable and continuous funding for companies excelling in safety management activities,” adding, “We hope to support financial costs for safety-centered corporate management and increase corporate value through sales growth and employment expansion.”
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