KAMCO Signs MOU for Corporate Joint Guarantor Credit Support with Financial Public Institutions and Associations
On the 8th, Kamco signed a memorandum of understanding with the Korea Federation of Banks, the Korea Federation of Savings Banks, the Korea Technology Finance Corporation, the Korea Credit Guarantee Fund, and the Small and Medium Business Corporation to provide credit support for corporate joint guarantors.
View original image[Asia Economy Reporter Park Sun-mi] On the 8th, Korea Asset Management Corporation (KAMCO) announced that it signed a memorandum of understanding (MOU) with the Korea Federation of Banks, the Korea Federation of Savings Banks, the Korea Technology Finance Corporation, the Korea Credit Guarantee Fund, and the Small and Medium Business Corporation to provide credit support for corporate joint guarantors.
This MOU signing was promoted to support the credit recovery of corporate-type self-employed individuals by purchasing corporate joint guarantee bonds from financial public institutions and others, followed by debt adjustment and repayment deferral, in accordance with the 2020 economic policy direction announced by the government last year.
The event was held via an online video conference considering the recent resurgence of COVID-19 in the metropolitan area.
Through the MOU, the six institutions including KAMCO agreed to cooperate for ▲ the sale of corporate joint guarantee bonds to KAMCO ▲ credit support for multiple debtors ▲ suspension of collection, debt reduction, extension of repayment period, and installment repayment to support the credit of corporate joint guarantors.
Hot Picks Today
"Now Our Salaries Are 10 Million Won a Month" Record High... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Is It Really Like an Illness? "I Can't Wait to Go Again"—Over 1 Million Visited in Q1, Now 'Busanbyeong' Takes Hold [K-Holic]
- "Realizing How Fast Money Disappears: Should You Try Only the Essentials for 5,000 Won? [The Basics of Benefits]"
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- Experts Already Watching Closely..."Target Price Set at 970,000 Won" Only Upward Momentum Remains [Weekend Money]
Kim Gwi-su, Head of Corporate Support Division at KAMCO, said, “This MOU is significant in that related institutions cooperate to support the recovery of corporate joint guarantors by alleviating debt burdens,” and added, “We will help turn failure experiences into stepping stones for re-challenge and contribute to the virtuous cycle of the startup ecosystem.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
