Shinhan Bank and KAMCO Sign Business Agreement to Discover New Ventures and Promote Mutual Growth

Public Asset Management - Discovering New Business Models through Financial Synergy
Cooperation in Supporting the Normalization of SME Management Struggling Due to COVID-19

[Asia Economy Reporter Yoo Je-hoon] Shinhan Bank announced on the 26th that it has signed a business agreement with Korea Asset Management Corporation (KAMCO) to discover new business models utilizing mutual expertise and to promote win-win cooperation.

KAMCO is a quasi-governmental institution responsible for acquiring and managing non-performing loans of financial companies, corporate restructuring, supporting the recovery of financially vulnerable groups, managing state-owned assets, and handling delinquent tax settlements. Through this business agreement, the two parties will actively cooperate to create synergy between public asset management and finance by ▲utilizing auction information through real estate investment consulting and financial support for auctioned properties ▲collaborative projects for normalizing the management of small and medium-sized enterprises (SMEs) ▲various financial supports utilizing mutual functions.

In particular, Shinhan Bank plans to expand support projects that combine institutional arrangements and financial services for SMEs together with KAMCO, the only public asset management specialized institution in Korea.

A Shinhan Bank official said, "Through this business agreement, we will enhance customer accessibility by combining KAMCO's auction information with Shinhan's digital platform," adding, "We will help normalize the management of SMEs facing difficulties and contribute to improving their competitiveness."