Kamco-Growth Finance-Yuamco Join Hands for 'Corporate Structural Innovation Fund'

Business Restructuring Agreement Among Three Organizations

[Asia Economy Reporter Yoo Je-hoon] Korea Asset Management Corporation (KAMCO), Korea Growth Investment Corporation (Growth Finance), and United Asset Management Corporation (UAMCO) have joined forces to successfully operate the Corporate Structural Innovation Fund. On the 1st, KAMCO announced that it signed a "Business Agreement to Strengthen Support for Corporate Restructuring Centered on the Capital Market" with Growth Finance and UAMCO at the KAMCO Yangjae Tower in Seocho-gu, Seoul.

According to the government's "2023 Economic Policy Direction," KAMCO is scheduled to manage the newly established Corporate Structural Innovation Fund starting this year. Through this agreement, KAMCO expects that its own experience in corporate restructuring support at the corporate level and Growth Finance's fund management expertise will create significant synergy effects. Additionally, by incorporating UAMCO's successful experience in corporate management normalization through fund participation, a cooperative system has been established to ensure the successful operation of the newly established Corporate Structural Innovation Fund.

The three institutions agreed to mutually cooperate in various areas, including promotional activities to revitalize corporate restructuring through the Corporate Structural Innovation Fund, expanding exchanges between institutions, hosting forums to broaden the restructuring market base, and collaborative research activities. In particular, KAMCO plans to explore multifaceted measures to support the complete normalization of corporate management by linking existing corporate support programs such as debtor-in-possession (DIP) financing for rehabilitated companies and asset purchase and lease programs with the Corporate Structural Innovation Fund.

Kwon Nam-joo, President of KAMCO, said, "I hope that the know-how related to corporate restructuring possessed by the three institutions will create synergy effects and lay the foundation for the successful operation of the Corporate Structural Innovation Fund," adding, "As a new fund operator, we will continue to play a pioneering role in the capital market."