Seoul Guarantee Insurance Signs Guarantee Support Agreement for Promising SMEs with Daejeon City

[Asia Economy Reporter Oh Hyung-gil] SGI Seoul Guarantee Insurance announced on the 17th that it has signed a business agreement with Daejeon Metropolitan City to support guarantees for promising companies.

Through this agreement, Seoul Guarantee will provide preferential guarantee support to small and medium-sized enterprises selected for the promising company support project hosted by Daejeon City.

To help SMEs grow into mid-sized companies, the guarantee limit will be expanded up to 3 billion KRW according to the company's credit rating, and premiums for performance guarantee insurance, English BOND, and win-win advance payment credit insurance products will be discounted by 10%. In addition, corporate credit management consulting services provided by external credit information companies will be offered free of charge.

The guarantee limit for about 270 promising companies selected by Daejeon City will increase by approximately 378 billion KRW, which is expected to contribute to corporate growth through market support and revitalization of the local economy.

Kim Sang-taek, CEO of Seoul Guarantee, said, "This is the fifth case of a metropolitan local government fostering promising companies guarantee support agreement following Busan, Incheon, Daegu, and Gwangju," adding, "We hope this will be a great help to local SMEs struggling with management difficulties due to the novel coronavirus infection."

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