Gyeonggi Credit Guarantee Foundation Presents 'Appreciation Plaque' to Outstanding Local Governments for Special Guarantee Contributions

The Gyeonggi Credit Guarantee Foundation selected six cities and counties?Goyang, Gwangmyeong, Guri, Dongducheon, Yongin, and Hanam?as the ‘2023 Outstanding Contribution Performance Cities and Counties’ for their active financial contributions to help small and medium-sized enterprises (SMEs) and small business owners overcome crises amid the emergency economic situation, and presented them with plaques of appreciation.

Gyeonggi Credit Guarantee Foundation operates special guarantees in cooperation with each city and county to support local SMEs and small business owners who face difficulties in financing due to insufficient collateral. Amid an unprecedented complex economic crisis causing many SMEs and small business owners to struggle, these six cities and counties actively increased their contributions to support the special guarantees.

In the case of Goyang City, contributions increased by 172%, from 3.2 billion KRW in 2022 to 5.5 billion KRW in 2023. Gwangmyeong City raised its contribution from 800 million KRW to 1.7 billion KRW, and Guri City increased from 1.2 billion KRW to 1.6 billion KRW. Dongducheon City contributed 1 billion KRW, Yongin City 3.8 billion KRW, and Hanam City 2.8 billion KRW last year, respectively.

Gyeonggi Credit Guarantee Foundation presented plaques of appreciation to cities and counties that contributed a significant amount of funds last year, which were used as special guarantee resources.

Last year, Gyeonggi Credit Guarantee Foundation received a total of 62.4 billion KRW in contributions from 31 cities and counties as special guarantee funds, supporting 19,993 companies with 747.1 billion KRW in special guarantees, becoming a key player in regional economic recovery. This year, Gyeonggi Credit Guarantee Foundation plans to do its best to overcome the regional economic crisis early by securing active contributions in cooperation with cities and counties.

Si Seok-jung, Chairman of Gyeonggi Credit Guarantee Foundation, expressed gratitude to local governments such as Goyang City for focusing their administrative capabilities on overcoming the crisis of SMEs and small business owners and revitalizing the regional economy. He added, “Gyeonggi Credit Guarantee Foundation will continue to actively cooperate with city and county policies and do its best on the ground to support the business success of SMEs and small business owners through prompt and proactive financial services.”