[Asia Economy Reporter Kwangho Lee] SGI Seoul Guarantee Insurance announced on the 27th that it has participated in the establishment of a data-driven mid-interest rate market innovation preparation corporation to advance credit evaluation for individual business owners.
The Mid-Interest Rate Innovation Corporation was established mainly by Korea Credit Data (KCD), with participation from Seoul Guarantee, Kakao Bank, KB Kookmin Bank, and others. On the 25th, it applied for a preliminary license for individual business owner credit evaluation (CB) from the Financial Services Commission.
A Seoul Guarantee official stated, "Through collaboration utilizing KCD's competitive data on individual business owners and the credit evaluation expertise of participating financial companies, we expect to discover various business opportunities." He added, "We plan to apply the Mid-Interest Rate Innovation Corporation's credit evaluation model to products related to individual business owners, such as the Saitdol mid-interest rate loan guarantee, to expand loan guarantees for individual business owners."
Meanwhile, as of May, Seoul Guarantee has supplied approximately 8.2 trillion KRW in cumulative Saitdol mid-interest rate loan guarantees.
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