Asian SME Credit Guarantee Institutions Gather... Shinbo Hosts ACSIC Meeting

Asia Credit Enhancement Institutions Alliance Meeting Held
Shinbo Hosts for the Third Time in 17 Years

[Asia Economy Reporter Minwoo Lee] An event gathering institutions operating credit enhancement systems for small and medium-sized enterprises (SMEs) in Asian countries will be held in South Korea.

The Korea Credit Guarantee Fund announced on the 31st that it will host the "34th ACSIC Meeting" for five days starting from the 7th of next month at the Inter-Burgo Hotel in Daegu.

“ACSIC” is the Asian Credit Supplementary Institutions Confederation, established in 1988 to promote mutual cooperation among Asian countries operating credit enhancement systems for SMEs. In South Korea, the Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and the Korea Credit Guarantee Foundation are members. A total of 17 institutions from 12 Asian countries, including Japan and Indonesia, are participating.

This meeting is the third time in 17 years that the Korea Credit Guarantee Fund is hosting the event, following 1989 and 2005. Approximately 250 people, including executives and staff from ACSIC member institutions and domestic and international invited guests, are expected to attend.

The slogan for this meeting is set as "Tomorrow for SMEs, Together with ACSIC." The theme is "Great Leap: Development Plans for SME Finance for Sustainable Growth." Various financial support measures will be explored to support the resilience of SMEs during the global COVID-19 pandemic era.

A representative from the Korea Credit Guarantee Fund stated, "In addition to the basic purposes of the meeting, such as information exchange and network strengthening among participating institutions, this will be an opportunity to discuss the progressive future of SME finance for the sustainable growth of SMEs in the Asian region in the post-COVID era."