Shinbo Provides 18.1 Billion KRW 'Joint Project Guarantees' to 8 Samsung Electronics Partner Companies

[Asia Economy Reporter Song Seung-seop] On the 30th, the Korea Credit Guarantee Fund announced that it will support 18.1 billion KRW in 'joint project guarantees' for eight Samsung Electronics partner companies.

The companies supported by KODIT are small and medium-sized or mid-sized partner companies participating in Samsung Electronics' 'high-efficiency customized refrigerator production project.' This project is evaluated to contribute to the reduction of greenhouse gases and the creation of a carbon-neutral ecosystem by decreasing production waste and power consumption.

KODIT provides guarantees to partner companies by evaluating the feasibility of projects jointly promoted by large corporations and their partner companies. Through joint project guarantees, partner companies with low credit ratings or weak financial ratios can also benefit. Large corporations are also recognized for their efforts to provide indirect financial support to partner companies. Since last year, this has been reflected in the 'Win-Win Growth Index' announced by the Win-Win Growth Committee.

A KODIT official stated, "This project guarantee will be an excellent case supporting the 2050 carbon neutrality initiative and strengthening corporate global competitiveness," adding, "We will continue to lead in supporting innovative projects that underpin the win-win growth of large corporations and small and medium-sized or mid-sized enterprises and the foundation of a low-carbon economic structure."

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