Kibo Activates 'Emergency Response Team for Heavy Rain Damage'

Support for Funding and Maturity Extension for Affected Small and Medium Enterprises

Kim Jong-ho, Chairman of the Korea Technology Finance Corporation (second from the right), is conducting damage assessment and an emergency countermeasure meeting at the task force.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 12th that it will establish and operate an emergency response team to support the rapid recovery and business stabilization of small and medium-sized enterprises (SMEs) affected by the heavy rains, which have caused casualties and property damage mainly in the central region.

Kibo has formed an emergency response team led by the guarantee officer in charge and decided to focus all efforts on supporting companies affected by the heavy rains. In particular, branches near the affected areas will operate a 'Heavy Rain Damage Report Reception Center,' and a field response team led by the regional headquarters chief will be activated to ensure prompt support for the affected companies.

For SMEs confirmed through the 'Heavy Rain Damage Report Reception Center,' Kibo plans to prioritize support through the 'Disaster SME Special Guarantee' to enable rapid recovery and business stabilization, operating it as quickly as possible. Additionally, for guarantees maturing for affected companies, Kibo will extend the full amount without repayment to reduce their burden. If it is difficult to issue documents verifying the affected companies, confirmation will be made through on-site investigations to promptly provide funds.

Chairman Kim Jong-ho of Kibo stated, "Kibo will operate a field-centered response team to ensure that affected companies can resume normal operations as quickly as possible, prioritizing support through special guarantees. Furthermore, to prevent repeated flood damage in the future, we will strengthen support for water management and water industry companies, contributing to the prevention of heavy rain damage."

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