Kibo Holds Meeting with Junggi Central Association and Shinbo on SME Guarantee Support

On the 24th, (from right) Kim Jong-ho, Chairman of the Korea Technology Finance Corporation, Kim Ki-moon, Chairman of the Korea Federation of SMEs, Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund, and Jung Yoon-mo, Executive Vice Chairman of the Korea Federation of SMEs, are taking a commemorative photo after a meeting.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (hereinafter referred to as Kibo) announced on the 24th that it held a meeting at the 63 Building in Yeouido, Seoul, together with the Korea Federation of SMEs (hereinafter referred to as Kbiz) and the Korea Credit Guarantee Fund (hereinafter referred to as KODIT) to support small and medium-sized enterprises (SMEs) struggling after COVID-19.

The meeting was attended by Kim Jong-ho, Chairman of Kibo; Kim Ki-moon, Chairman of Kbiz; Yoon Dae-hee, Chairman of KODIT; and Jung Yoon-mo, Executive Vice Chairman of Kbiz. The three organizations agreed to prepare active support measures for SMEs facing difficulties due to changes in the domestic and international environment such as the COVID-19 pandemic, the Ukraine crisis, and the wildfires in Uljin and Samcheok through mutual cooperation.

In particular, the agenda included ▲ active special guarantee support for affected companies ▲ simplification of guarantee support through the activation of non-face-to-face methods ▲ cooperation plans in response to economic environment changes after the post-COVID era ▲ and expansion of support measures to overcome the economic crisis.

Kibo recently extended the loan maturity for SMEs struggling due to COVID-19 until the end of March this year and continues to make efforts to alleviate the financial difficulties of SMEs.

Kim Ki-moon, Chairman of Kbiz, said, "Thanks to the active cooperation of guarantee institutions, SME export performance last year reached an all-time high despite difficult circumstances," adding, "Given the recent trend of interest rate hikes and soaring raw material prices, many SMEs are still facing difficulties, so the three organizations should join forces and focus their capabilities on supporting SMEs."

Kim Jong-ho, Chairman of Kibo, stated, "SMEs that have been struggling due to the COVID-19 pandemic lasting more than two years are now facing even greater crises due to the recent Ukraine situation," and added, "Kibo, Kbiz, and KODIT will cooperate to ensure smooth guarantee supply and prompt financial support to overcome the current crisis as early as possible."

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