Yeogyeonghyeop & KCB Sign Business Agreement... "Expanding Credit Evaluation Support for Women-Owned Businesses"

The Nation's First: Incorporating Non-Financial Evaluation Factors in Corporate Credit Ratings Upon Submission of Women-Owned Business Certification

[KCB Corporate Credit Rating Reflects Women-Owned Business Certificate Evaluation Factors (Provided by KCB)]

The Korea Women Entrepreneurs Association (KWEA) and the comprehensive credit rating agency Korea Credit Bureau (KCB) announced on the 17th that they have signed a business agreement.

This MOU was established to expand support for corporate evaluations of women-owned businesses and to promote KCB's corporate evaluations. Through this, KCB will become the first domestic credit rating agency to incorporate the 'Women-Owned Business Certificate' as a non-financial evaluation factor in corporate credit assessments. In addition to the existing financial data-centered evaluation method, KCB has actively integrated various non-financial information into its evaluation system to improve disadvantages faced by companies such as SMEs and startups.

A KWEA official stated, "The number of women-owned businesses in Korea continues to increase every year, and especially, more women-owned companies are participating in public bids such as those by the Public Procurement Service to secure stable sales," adding, "This MOU is expected to help women-owned businesses enhance their competitiveness in public bidding."

Meanwhile, from April 17 to May 31, KWEA is conducting a free credit management campaign on its website, allowing any women-owned business to check their corporate credit rating free of charge. Various prizes will also be awarded to participating members.