'Activation of Credit Insurance Business and Support for Mutual Growth of Enterprises' ... Shinbo Partners with SGI Seoul Guarantee
Related MOU Signing
Cho Chung-haeng, Director of the Korea Credit Guarantee Fund (left), and Hwang Eui-tak, Executive Director of SGI Seoul Guarantee, are posing for a commemorative photo after signing a "Business Agreement for the Activation of Credit Insurance Business and Support for Co-growth of Companies" at the Korea Credit Guarantee Fund Daegu Headquarters on the 21st. (Provided by Korea Credit Guarantee Fund)
View original image[Asia Economy Reporter Minwoo Lee] The Korea Credit Guarantee Fund (KODIT) has partnered with SGI Seoul Guarantee Insurance to expand the credit insurance business base and jointly support the co-growth of domestic companies.
KODIT announced on the 21st that it signed a business agreement titled 'Activation of Credit Insurance Business and Support for Co-Growth of Companies' with SGI Seoul Guarantee Insurance at the KODIT headquarters in Daegu.
Accordingly, both organizations plan to jointly promote ▲policy research on the domestic credit insurance system ▲practical forums, academic conferences, and online and offline joint training sessions for the co-growth of large and small-to-medium enterprises (SMEs). They also plan to actively cooperate in joint campaigns to promote the credit insurance system and exchanges with related overseas institutions.
Previously, since 2004, KODIT has been operating the accounts receivable insurance business entrusted by the Ministry of SMEs and Startups. Accounts receivable insurance is a public insurance system where KODIT compensates up to 80% of losses when an insured company sells goods or services on credit to a client and fails to collect the receivables.
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A KODIT official stated, "Through this agreement, the role of credit insurance as a management safety net for companies will be further strengthened," adding, "To this end, both organizations will cooperate in various ways and do their best to prepare more practical support for the co-growth of large and small-to-medium enterprises."
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