Munsungyu, CEO of KAMCO, Visits SMEs for Communication... "Strengthening Support for Leasing After Asset Acquisition"

KAMCO Holds On-site Meeting to Strengthen Support for SMEs
"Plans to Enhance Support for Asset Purchase and Leasing Programs"

[Asia Economy Reporter Park Sun-mi] KAMCO (Korea Asset Management Corporation) held a ‘On-site Meeting with Companies Supported by the Asset Purchase and Leaseback Program’ at the Golden Route Industrial Complex in Gimhae City on the 22nd, attended by KAMCO President Moon Sung-yu and company officials.

This on-site meeting was held at Hanmi Flexible, a small and medium-sized enterprise overcoming liquidity crises and pursuing business normalization through KAMCO’s ‘Asset Purchase and Leaseback Program.’ It was organized to directly listen to and communicate about on-site difficulties and suggestions, aiming to enhance the effectiveness of support through additional assistance and system improvements.

The visited company, Hanmi Flexible, is the single first-tier vendor for the vacuum cleaner division of a major domestic home appliance manufacturer. Although it is a sound SME with sales exceeding 50 billion KRW, it recently experienced liquidity deterioration due to poor performance of overseas subsidiaries and financial interest burdens from large-scale facility investments. Accordingly, in June this year, the company sold its factory under the condition of repurchasing it through KAMCO’s 'Asset Purchase and Leaseback Program' and received funding to improve its financial structure.

A Hanmi Flexible official stated, “With KAMCO’s new funds, we were able to overcome the liquidity crisis and lay the foundation for transformation. Furthermore, despite difficulties such as decreased sales due to COVID-19, KAMCO has additionally reduced rent, allowing us to steadily pursue business normalization.”

KAMCO President Moon Sung-yu said, “We plan to strengthen support through the Asset Purchase and Leaseback Program to help medium-sized and small enterprises normalize management amid unexpected difficulties caused by COVID-19,” adding, “We will directly observe on-site challenges and actively reflect necessary elements in the program to provide practical assistance to companies.”

Meanwhile, since 2015, KAMCO has supplied liquidity of 547.5 billion KRW to 44 companies through the Asset Purchase and Leaseback Program, supporting business normalization.

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