Kwon Namjoo, President of KAMCO: "Focusing on Revitalizing the Economy as a Policy Execution Partner"

Kwon Namjoo Outlines KAMCO’s 2024 Priorities
Focus on Economic Revitalization and Support for Vulnerable Sectors

"KAMCO will focus its capabilities on revitalizing the economy as an irreplaceable partner in policy execution."

On January 2, Kwon Namjoo, President of KAMCO (Korea Asset Management Corporation), made these remarks in his New Year’s address at the 2025 Kickoff Ceremony. President Kwon stated, "Last year, despite the challenges arising from policy project execution and business expansion, KAMCO achieved meaningful results thanks to the passion and dedication of our employees. We supported the rebound of small business owners and self-employed individuals through the active expansion of the Fresh Start Fund system, contributed to the stabilization of the financial market by aggressively acquiring non-performing loans from vulnerable financial sectors, and swiftly executed investments in project financing (PF) normalization support funds." He assessed the economic situation by saying, "This year, our economy is entering an era of extreme uncertainty and will face unprecedented changes and challenges," and added, "Given the unavoidable need to expand the fiscal role for the recovery of the people's livelihood, KAMCO will focus its efforts on supporting vulnerable sectors such as households and businesses as a 'safety net for the national economy.'"

To this end, President Kwon presented the key business priorities for this year to revitalize the economy, stating, "With the mindset of 'riding the wind and breaking the waves' (Seungpungpalang), we must overcome current difficulties and further enhance our economy’s crisis response capabilities."

First, in the area of household support, KAMCO will strengthen support so that small business owners and self-employed individuals can fully benefit from the Fresh Start Fund, and will continue to acquire non-performing loans to improve the soundness of financial institutions and support the recovery of vulnerable debtors. Additionally, KAMCO will establish effective support measures for long-term delinquent debtors. In the area of corporate support, the company will enhance tailored support for companies undergoing post-restructuring, such as through the acquisition of corporate assets and the expansion of DIP (Debtor In Possession) financing. Furthermore, KAMCO will continue to create and activate policy-driven funds, such as for the normalization of real estate PF projects, through close cooperation with the private capital market.

In addition, in the area of public support, KAMCO will proactively identify and respond to policy demands from relevant ministries to support national economic revitalization through the development of national and public assets and the utilization of idle state-owned properties. The company will also promote projects that meet public expectations, such as supporting urban rental housing, to enhance public convenience.

President Kwon emphasized, "To smoothly implement government policies, we must build a trusted KAMCO with expertise and competitiveness," and added, "Let us take a step forward to become 'KAMCO, a 100-year company' that continually grows through innovation and fosters a healthy organizational culture."