Gyeonggi Credit Guarantee Foundation Warns Against Illegal Guarantee Brokers 'Caution'

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Illegal guarantee brokers who arrange guarantees and demand commissions are rampant.

The Gyeonggi Credit Guarantee Foundation recently warned that, taking advantage of the difficult economic crisis caused by COVID-19, there have been damages caused by illegal guarantee brokers who arrange guarantees and demand commissions or other fees, urging special caution for small and medium-sized enterprises and small business owners in the province.

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Illegal guarantee brokers refer to persons who have no direct interest with the guarantee applicant company and ▲ illegally arrange guarantee support and demand or receive commissions or other fees ▲ demand or receive commissions in exchange for preparing false documents or forgery/falsification for guarantee applications ▲ impersonate employees to collect guarantee fees from the applicant company ▲ or otherwise improperly intervene in guarantee applications and support while demanding or receiving commissions or fees.

The Gyeonggi Credit Guarantee Foundation advises that if you suspect illegal guarantee brokers, you can report them through the 'Clean Report Center' on the Gyeonggi Credit Guarantee Foundation website (www.gcgf.or.kr). It is also possible to report by phone (031-259-7706) or in writing (fax 031-259-7790, mail).

Lee Min-woo, Director of the Gyeonggi Credit Guarantee Foundation, said, "Recently, illegal brokers have been spotted taking advantage of the difficult economic situation caused by COVID-19," and added, "Since the Gyeonggi Credit Guarantee Foundation has never signed agreements with or entrusted any brokers, please report if you suspect illegal guarantee brokers."

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