Kibo Selected Microcable as an Excellent Company for the 'Safety UP Campaign'

Listening to On-site Opinions on Safety Management

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 29th that Microcable was selected as an excellent company in safety management innovation as a result of the 'Safety UP Campaign' conducted over the past three months.

Microcable, established in 2017 for the purpose of manufacturing electric cables, identified safety vulnerabilities through free consulting by the Korea Occupational Safety and Health Agency this year. Subsequently, it secured necessary funds through Kibo's Safety Infrastructure Guarantee, improved the vulnerable areas, and was recognized as an excellent workplace in risk assessment by the Korea Occupational Safety and Health Agency.

Min Kyung-hwan, CEO of Microcable, said, "There was a financial burden for improving the work environment and safety education to prevent industrial accidents, but we secured funds at relatively low financial costs through Kibo's Safety Infrastructure Guarantee and were recognized as an excellent workplace in risk assessment based on this."

Kibo's Safety Infrastructure Guarantee is a safety-dedicated guarantee product established last year that supports funds required for preventing safety accidents and industrial safety innovation, such as replacing aging facilities, introducing safety equipment, and hiring safety experts. For excellent safety companies, the guarantee ratio is increased up to 100% and the guarantee fee rate is reduced by 0.2 percentage points through special contribution agreements with financial institutions. Since the introduction of the Safety Infrastructure Guarantee in November last year, a total of 171 billion KRW has been supported to 264 companies until the end of last month, and support will continue next year as well.

Kim Young-choon, director of Kibo, stated, "Due to the Serious Accident Punishment Act scheduled to be enforced in January 2022, safety management innovation and accident prevention activities will become essential for small and medium venture companies," adding, "Kibo will actively support the spread of ESG management among small and medium venture companies through safety innovation."

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