Kim Hak-do, Chairman of Jungjin Gong, Visits No.1 Win-Win Company in Accounts Receivable Factoring Field

Find Shinyoung Metal located in Namdong-gu, Incheon, the purchasing company

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (hereinafter referred to as SBC) announced that Chairman Kim Hak-do visited Shinyeong Metal in Namdong-gu, Incheon (CEO Jeong Ju-young) on the 8th and presented a win-win company certificate to the first company utilizing SME accounts receivable factoring.

Accounts receivable factoring is a new project promoted this year by the Ministry of SMEs and Startups and SBC, where SBC purchases accounts receivable held by SMEs without recourse, supports early cash conversion for the selling company, and collects the accounts receivable from the purchasing company. A total of 37.5 billion KRW will be supported this year.

On this day, Chairman Kim presented the win-win company certificate to Hong Seong-hwan, CEO of the selling company Shinhwa, and Jeong Ju-young, CEO of the purchasing company Shinyeong Metal. During the subsequent meeting, suggestions and difficulties regarding the accounts receivable factoring project were shared.

Chairman Kim said, "We will do our best to ensure that the SME accounts receivable factoring project becomes an opportunity for mutual growth between selling and purchasing companies based on win-win cooperation between companies," adding, "Starting with the first win-win company, we hope that more SMEs will utilize accounts receivable factoring, a new short-term liquidity supply system, to grow stably."

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