"Leading Corporate Management Normalization!" ... Busan City and KAMCO Sign Business Agreement on 'SME Asset Purchase and Lease Support'

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan City and Korea Asset Management Corporation (KAMCO) are joining forces to normalize the management of small and medium-sized enterprises (SMEs) facing liquidity crises.

On the afternoon of the 12th, the city signed a business agreement with KAMCO at City Hall regarding ‘SME Asset Purchase and Lease Support’ and will promote rental fee support.

The city and KAMCO will each support 2% of the rental fee (up to a total rental fee of 1.5 billion KRW), providing up to 60 million KRW annually per company for companies supported by KAMCO’s ‘Asset Purchase and Leaseback Program (S&LB).’

The S&LB program is a program in which KAMCO selects companies with high potential for management normalization, purchases their assets, and leases them back to the existing management. The company’s business and production base are maintained, and when management is normalized, the existing management is granted a right of first refusal to repurchase.

Busan City and KAMCO plan to alleviate the fixed cost burden of SMEs struggling due to the prolonged COVID-19 pandemic and help them quickly transition to normal companies through this agreement.

Mayor Park Hyung-jun said, “We will create policies with KAMCO that enable SMEs, the foundation of Busan’s economy, to endure and gain strength amid various crises.”

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