KAMCO's 'Package-type Rehabilitation Company Financial Support Program' Wins Government Excellence Award
Promotion of Business Normalization for Rehabilitation Companies through Public-Private-Civil Collaboration Led by KAMCO
New Loans of 73.5 Billion KRW to 83 Rehabilitation Companies
Achievement of Maintaining Employment for Approximately 3,000 People
[Asia Economy Reporter Sim Nayoung] Korea Asset Management Corporation (KAMCO) announced on the 22nd that its "Package-type Financial Support Program for Rehabilitation Companies" won the Excellence Award in the Collaboration category in the "2021 Innovation, Collaboration, and Citizen Participation Task Evaluation" conducted by the Ministry of Economy and Finance for all public institutions.
The "Package-type Financial Support Program for Rehabilitation Companies" is a comprehensive support program that helps financially normalize rehabilitation companies that possess excellent technology and business capabilities but face difficulties in raising funds due to low credit ratings.
KAMCO identifies competitive rehabilitation companies and, together with the Small and Medium Business Corporation, provides loans (DIP financing) for working capital, facilities, and refinancing, while additionally offering guarantee insurance through SGI Seoul Guarantee to support the economic recovery of rehabilitation companies. DIP financing refers to financial support for rehabilitation companies, providing operating funds to those with technology and business capabilities and a high possibility of normalization.
To enhance the program's effectiveness, KAMCO has established a public-private collaboration system by signing agreements with specialized institutions in rehabilitation procedures, technology evaluation, and finance, including the Seoul Rehabilitation Court, Korea Institute for Advancement of Technology, and Industrial Bank of Korea.
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Through the Package-type Financial Support Program for Rehabilitation Companies, KAMCO has so far lent new funds amounting to 73.5 billion KRW to 83 rehabilitation companies and provided guarantee insurance worth a total of 6.2 billion KRW, achieving results that support the business normalization of small and medium enterprises and help maintain employment for approximately 3,000 people.
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