Samsung Heavy Industries Provides a Total of 6.5 Billion KRW in Guarantee Support to Four Partner Companies Participating in the Semiconductor Equipment Construction Project
[Asia Economy Reporter Sim Nayoung] The Korea Credit Guarantee Fund (KODIT) announced on the 4th that it will support 'joint project guarantees' for Samsung Heavy Industries' partner companies.
KODIT will provide 6.5 billion KRW in working capital to four small and medium-sized enterprises (SMEs) participating in Samsung Heavy Industries' 'Semiconductor Equipment Construction Project Utilizing Heavy Industry Manufacturing Technology' to carry out their tasks.
This project is being promoted in connection with Samsung Electronics' investment in the world's largest semiconductor cluster facility being built in Pyeongtaek to prepare for future increases in semiconductor demand and to secure a competitive edge in the global semiconductor market.
Samsung Heavy Industries, the construction company, plans to complete semiconductor production facilities together with partner companies by applying differentiated smart construction methods such as modular construction techniques, welding, and cable laying automation technologies accumulated through experience in shipbuilding and offshore plant manufacturing.
The 'joint project guarantee' is a product in which KODIT evaluates the business feasibility of projects jointly promoted by large corporations and their partner companies and provides guarantees to the partner companies. It can support partner companies with low credit ratings or weak financial ratios.
For large corporations participating in KODIT's joint project guarantee, their efforts to provide indirect financial support to partner companies are recognized and reflected in the 'Win-Win Growth Index' evaluation announced by the Win-Win Growth Committee.
A KODIT official stated, "We expect this project to contribute to the revitalization of the smart construction industry and securing a technological gap in semiconductors," and added, "Going forward, KODIT will actively support joint projects in key industries expected to enhance national competitiveness."
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