Chairman & CEO Yoon Dae-hee of Korea Credit Guarantee Fund (KODIT) demanded that the organization prepare for future changes while supporting the full recovery of the national economy.
In his New Year’s message, KODIT Chairman Yoon said, “An aggressive financing support is needed so that the national economy can overcome a crisis, caused by the COVID-19 pandemic amid the protracted outside and inside uncertainties.”
KODIT, setting total guarantee amounts at 80.3 trillion won, decided to retain an expansionary guarantee policy.
In particular, major policy sectors, including exporters and the “New Deal” sector, will see guarantee amounts increase by 2 trillion won to 50.5 trillion won.
KODIT decided to expand financial support to nurture the raw materials, parts and equipment segments of the Big Three Sectors: Future Cars, System Semiconductors and bio/health, as well as K-content, a future mainstay industry.
KODIT plans to work out programs to further expedite the growth of venture companies and startups as unicorn companies, and commercialize excellent technologies and intellectual assets.
KODIT decided to speed up digital transformation by inaugurating a body specializing in digital innovation and expand customer-friendly financial services based on big data and digital services, including AI-based corporate analysis systems and alternative credit evaluations for companies with an insufficient financial track record.
The institution plans to proactively offer funds for the transition to low-carbon businesses.
Funds will also be assessed for the use of renewable energies to help SMEs introduce ESG management and ramp up non-financial support, such as diverse financial incentives and consulting services, while reinvigorating social finance by expanding the use of social economy enterprise evaluation models.
Chairman Yoon said KODIT will do its utmost to help SMEs build a strong foothold amid a crisis and make a leap forward. KODIT will expand its support for SMEs to improve competitiveness and sustainability, he added.
Chairman & CEO Yoon Dae-hee of Korea Credit Guarantee Fund (KODIT), President Kim Jung-hwan of Korea Industrial Complex Corp. and Dir.-Gen. Choi Nam-ho in charge of industry policy at the Ministry of Trade, Industry and Energy attend a ceremony to strike an MOU on invigorating industry transition for carbon neutrality at Front1 in Yeouido, Seoul, on Feb. 7.
KODIT, Samsung SDS, Industrial Bank of Korea to Offer Financial Support to SME Exporters
KODIT signed an MOU on the provision of financial support for shared growth of SME exporters with Samsung SDS and IBK, KODIT said on Jan. 20.
Under the deal, KODIT and IBK will build a shared growth network among large- and small-sized companies to explore and support promising SME exporters, in cooperation with Samsung SDS.
The agreement is designed to comply with the government’s shared growth policy.
Under the agreement, KODIT will give preferential treatment to candidate companies, such as a guarantee rate of 90 percent and a 0.2 percentage point reduction in the guarantee premium.
Samsung SDS will shoulder a maximum of 3 million won, part of the guarantee premium each candidate company will pay for.
IBK will alleviate the burden for SME exporters’ financial costs by lowering their interest rate by a maximum of 1 percentage point.
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