Shinbo-KAMCO Sign Business Agreement to Support 'Asset Purchase and Lease Program'

Choi Chang-seok, Director of the Korea Credit Guarantee Fund (right), and Kim Gwi-su, Director of the Korea Asset Management Corporation, are posing for a commemorative photo after signing a business agreement.

[Asia Economy Reporter Kwangho Lee] The Korea Credit Guarantee Fund announced that on the 21st, it signed a "Business Agreement for the Management Normalization of Companies Supported by the Asset Purchase and Leaseback Program" with the Korea Asset Management Corporation (KAMCO) at the KAMCO Yangjae Tower located in Gangnam-gu, Seoul.

The Asset Purchase and Leaseback Program is a management normalization support program in which KAMCO purchases assets from companies experiencing temporary management difficulties, provides new operating funds, and then leases the assets back to the companies so they can continue their operations.

According to the agreement, KAMCO will recruit companies wishing to receive consulting and recommend the target companies to the Korea Credit Guarantee Fund, which will provide customized management consulting to help normalize the management of the target companies.

A representative from the Korea Credit Guarantee Fund stated, "This agreement has established an inclusive cooperative system between the two organizations to support the management normalization of companies participating in the program," adding, "The Korea Credit Guarantee Fund will continue to expand customer-centered ESG (Environmental, Social, and Governance) management in line with government policy directions and faithfully fulfill its role as a policy financial institution."

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