KAMCO Provides Up to 10 Million KRW Interest Support to Restructuring Companies in Chungnam

After the business agreement ceremony between Chungcheongnam-do and Korea Asset Management Corporation, Chungcheongnam-do Governor Yang Seung-jo (left) and KAMCO President Kwon Nam-joo are taking a commemorative photo. Photo by KAMCO

[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) will support interest payments of up to 10 million KRW for rehabilitation companies in Chungcheongnam-do.

On the 21st, KAMCO announced that it signed a 'Rehabilitation Company Support Finance Interest Subsidy Agreement' with Chungcheongnam-do the previous day. According to the agreement, KAMCO will provide support financing (DIP financing) to rehabilitation companies with technological capabilities in the province. Chungcheongnam-do will support 2% of the financial interest costs (up to 10 million KRW annually).

This agreement was established to effectively assist the business normalization of rehabilitation companies by mutually linking KAMCO's DIP financing and Chungcheongnam-do's small and medium enterprise development programs. Both institutions expect the agreement to contribute to resolving management difficulties of rehabilitation companies in the region and revitalizing the local economy.

KAMCO has supplied new funds amounting to 73.5 billion KRW to 89 rehabilitation companies nationwide. This year, the scale of DIP financing support is planned to expand up to 50 billion KRW.

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