Jungjingong-KAMCO-Seoul Guarantee Insurance Join Forces to Support Revival of Restructured Companies

Package-Type Rehabilitation Enterprise Financial Support Program Meeting Held on the 15th
Discussion on Improving Funding Support Systems to Revitalize SME Recovery Assistance

Small and Medium Business Corporation

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 15th that it held a meeting for the 'Package-type Financial Support Program for Rehabilitation Companies' with Korea Asset Management Corporation (President Moon Sung-yu, hereinafter KAMCO) and Seoul Guarantee Insurance (President Yoo Kwang-yeol) via online video conference.

The Package-type Financial Support Program for Rehabilitation Companies is a collaborative program in which SBC and KAMCO provide working capital to companies that are either undergoing rehabilitation procedures or have completed them within the last three years, and that have high potential for business normalization and excellent technological capabilities, while Seoul Guarantee Insurance offers preferential guarantees.

The meeting was attended by program operating organizations such as SBC, KAMCO, and Seoul Guarantee Insurance, as well as related institutions including Industrial Bank of Korea and Korea Institute for Advancement of Technology. Participants reviewed the support achievements over the one year and five months since the program's launch. Since April last year, SBC, KAMCO, and Seoul Guarantee Insurance have supplied liquidity of 57.6 billion KRW to 72 rehabilitation companies through package-type financial support and provided guarantees up to 500 million KRW per company, helping to maintain employment for over 2,800 people to date.

During the meeting, representatives of small and medium rehabilitation companies receiving support from the package-type financial support program shared the difficulties faced by rehabilitation companies, and ways to improve the program from the companies' perspective were also discussed. Im Ji-hyun, Head of the Re-advancement Growth Division at SBC, stated, "SBC will continue to collaborate with related institutions such as KAMCO and Seoul Guarantee Insurance to support the business normalization of rehabilitation companies struggling due to COVID-19 and other challenges."