KAMCO Holds 'On-site Meeting' to Strengthen Support for SMEs

Moon Sung-yoo, CEO of KAMCO, is listening to a company representative about the company's status at the 'On-site Meeting with Companies Supported by the Asset Purchase and Lease Program.'

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 17th that it held an on-site meeting with small and medium-sized enterprises (SMEs) located in the Hapdeok General Industrial Complex in Chungnam to support KAMCO's 'Asset Purchase and Leaseback Program.'

This on-site visit was arranged to directly listen to and communicate with SMEs pursuing business normalization through KAMCO's Asset Purchase and Leaseback Program, in order to enhance the effectiveness of support through additional assistance and system improvements by understanding the difficulties and suggestions from the field.

The company visited by President Seongyu Moon is a solid small but strong enterprise with over 30 years of experience and high technological capabilities. However, due to the shutdown in the automobile industry caused by COVID-19, it experienced a decrease in sales and operating losses, leading it to request help from KAMCO last July.

In response to the company's request, KAMCO provided financial support in August under the condition of repurchasing the factory through the Asset Purchase and Leaseback Program, helping to improve the company's financial structure and supporting stable business operations by leasing the factory back to the company.

President Seongyu Moon of KAMCO stated, "We plan to strengthen support for the Asset Purchase and Leaseback Program to help companies struggling due to the prolonged COVID-19 pandemic normalize their management. We will directly observe the difficulties on-site and reflect them in the program to provide practical assistance in revitalizing companies."