Gyeonggi Shinbo Provides 15 Billion KRW Special Guarantee to Small Business Owners in Goyang Area

Si Seok-jung, Chairman of Gyeonggi Credit Guarantee Foundation (right), is taking a commemorative photo with Lee Dong-hwan, Mayor of Goyang, after signing a special guarantee business agreement. Photo by Gyeonggi Credit Guarantee Foundation

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Credit Guarantee Foundation will provide a special guarantee of 15 billion KRW for small business owners in the Goyang area.

Gyeonggi Credit Guarantee Foundation announced on the 20th that it signed a "Special Guarantee Support Business Agreement between Goyang Special City and Gyeonggi Credit Guarantee Foundation for the Management Stabilization of Small and Medium-Low Credit Small Business Owners Specialized in Goyang Special City" in Goyang City on the 17th.

The special guarantee support business agreement was made at the active request of Goyang City for the prompt management stabilization of local business owners.

According to the agreement, Goyang City will contribute 1.5 billion KRW to Gyeonggi Credit Guarantee Foundation. Gyeonggi Credit Guarantee Foundation will support a special guarantee of 15 billion KRW, which is ten times the contribution amount.

In particular, the guarantee limit for this special guarantee is up to 100 million KRW per company. This is twice the guarantee limit of the existing special guarantee for small business owners recommended by Goyang City (up to 50 million KRW per company). In addition, to facilitate smooth loan processing and reduce financial cost burdens for applicant companies, full guarantee (guarantee ratio 100%) will be supported.

Si Seok-jung, Chairman of Gyeonggi Credit Guarantee Foundation, said, "Through this business agreement, we expect to contribute to the recovery of the local economy by improving financial accessibility for small and medium-low credit small business owners," and promised, "Going forward, Gyeonggi Credit Guarantee Foundation will do its best to provide financial support with one heart together with Goyang City for the revitalization of the local economy."