Jungjingong, Ministry of Economy and Finance Fund Management Evaluation 'Excellent' for 3 Consecutive Years

"Supporting Innovative Growth of SMEs and Ventures through Stable Asset Management"

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young) and the Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 3rd that the SME Startup and Promotion Fund (hereinafter referred to as the Startup Fund) received the 'Excellent' rating for the third consecutive year in the '2021 Fiscal Year Fund Operation Evaluation' conducted by the Ministry of Economy and Finance.

The fund operation evaluation is divided into six grades: Excellent, Very Good, Good, Average, Poor, and Very Poor. This year, among 33 funds subject to evaluation, five funds including the Startup Fund received the Excellent rating. SBC has achieved the highest rating for three consecutive years.

Last year, SBC showed outstanding performance in reducing held funds, improving credit risk benchmarks, and achieving higher returns compared to other funds. In particular, to expand socially responsible investment, SBC actively established 'ESG investment performance' as an evaluation item for weekly fund managers, receiving high marks.

The Ministry of Economy and Finance formed an evaluation team of 36 private experts from February to May to conduct the fund operation evaluation. The evaluation results were reported at the Cabinet meeting on the 26th of last month and will be reflected in the 2021 Ministry of Economy and Finance public institution management evaluation.

The Startup Fund, a representative public fund in the SME and startup sector, focuses on supporting startup companies and small businesses that are difficult to support through private financial institutions, and this year it has allocated and is executing a budget of 9.66 trillion won.

Kim Hak-do, Chairman of SBC, said, "Given the recent increased volatility in domestic and international financial markets, we will continue to do our best to support the innovative growth of SMEs and startups through stable asset management."

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