Kibo Strengthens On-site Management to Support Businesses Affected by 'COVID-19'

Emergency Response Teams Established in Special Disaster Areas Daegu and Gyeongbuk

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced that from the 23rd, all executives will visit nationwide branches to inspect the on-site situation related to the novel coronavirus infection (COVID-19) and work to enhance the performance of special guarantee support.

In particular, to support the rapid recovery of damages in the special disaster areas of Daegu and Gyeongbuk, a "COVID-19 Damage Emergency Response Team" has been established with the responsible executive as the team leader, who will reside on-site and encourage prompt special guarantee support together with the regional headquarters heads and branch managers.

This executive on-site inspection is a follow-up measure after Chairman Jung Yoon-mo visited all eight branches in the Daegu and Gyeongbuk areas on the 6th to check the on-site situation and instructed the expansion of the special guarantee scale and the revolutionary simplification of the guarantee support procedures. Kibo implemented a special guarantee to support companies affected by COVID-19 last month, increasing the guarantee ratio from 85% to 95% for efficient support and applying a fixed guarantee fee of 1.0% to reduce the burden of guarantee fees. To provide prompt support, guarantee consultations have been unified through online counseling, submission documents have been greatly simplified, and the review period shortened to minimize inconvenience.

Kim Young-chun, an executive leading the emergency response team while residing in Daegu, stated, "Taking advantage of the supplementary budget, we will expand the scale of special guarantees and provide practical and prompt support to companies affected by COVID-19 through revolutionary simplification of guarantee procedures, doing our best to restore economic vitality."

This content was produced with the assistance of AI translation services.