'Non-face-to-face Electronic Contract' Implementation... Jungjin Gong Accelerates Digitalization of Policy Finance

On the 4th, Chairman Kim Hak-do Conducts Direct Demonstration and System Check of Non-face-to-face Electronic Contract

On the morning of the 4th, Chairman Kim Hak-do is directly demonstrating the non-face-to-face electronic contract procedure in Mokdong, Seoul.

[Asia Economy Reporter Kim Cheol-hyun] From the 7th, non-face-to-face electronic contracts for SME policy funds will be fully implemented. The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 4th that it will lead the enhancement of customer convenience and the expansion of non-face-to-face financial transactions through the digitalization of demand-oriented policy finance services.

In response to COVID-19, SBC has been strengthening non-face-to-face policy finance services to provide rapid liquidity support to small and medium venture businesses. In 2020, it declared the digitalization of policy fund operations according to the Information Strategy Plan (ISP), and last year completed the development of a non-face-to-face electronic contract system.

During February, SBC conducted a pilot operation of the non-face-to-face electronic contract system in five regional headquarters including Seoul and Gyeongnam, improving system speed and enhancing customer convenience features. From the 7th, it plans to expand electronic contracts nationwide.

Previously, small and medium venture businesses had to visit regional headquarters in person to sign loan contracts, but now they can sign contracts anytime and anywhere via a web-based system. Documents required for loans can also be automatically submitted online, saving time and costs. SBC expects that automating simple and repetitive tasks will improve work efficiency and that reducing unnecessary paper use through electronic document management systems will contribute to achieving carbon neutrality.

Meanwhile, Chairman Kim Hak-do personally demonstrated the non-face-to-face electronic contract procedure and inspected the electronic document management system on the 4th. Chairman Kim urged thorough efforts to guide procedures according to user perspectives during the initial implementation of electronic contracts and to ensure stable system operation to prevent customer inconvenience. Chairman Kim said, "SBC is promoting the digitalization of policy finance from application to evaluation and loan in line with the government's Digital New Deal policy," adding, "We will continue to advance support systems such as policy funds centered on users so that customers can use policy services more conveniently, quickly, and safely."

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