Sejong Launches 'Credit Guarantee Foundation' for Customized Guarantee Support for Small Business Owners

[Asia Economy (Sejong) Reporter Jeong Il-woong] The Sejong Credit Guarantee Foundation will officially launch next month.

According to Sejong City on the 12th, the Credit Guarantee Foundation will move into a private building located in Naseong-dong and will officially begin operations starting January next year. The opening ceremony is scheduled to be held next month.

Until now, the region lacked a Credit Guarantee Foundation, causing inconvenience as residents had to use the nearby Chungnam Credit Guarantee Foundation Gongju Branch or Cheonan Branch. Sejong was also the only city among the 17 metropolitan cities and provinces nationwide without a Credit Guarantee Foundation.

With the launch of the Credit Guarantee Foundation in the region next month, it is expected that the inconveniences faced by local small business owners will be resolved.

The city has secured a basic fund of 20 billion KRW, which is the foundational capital for the Credit Guarantee Foundation, and will focus on key tasks such as credit guarantees and guarantee planning for small business owners in Sejong, management of guarantee debt fulfillment and subrogation rights, and the basic capital.

Kim Hoe-san, head of the City Enterprise Support Division, said, "As the number of local small business owners rapidly increases, the demand for financial support is also surging. With the establishment of the Credit Guarantee Foundation in the region, we expect not only improved convenience in financial service usage for small business owners but also the revitalization of the local commercial district through expanded customized guarantee support."

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