BNK Gyeongnam Bank and KAMCO Join Forces to Support 'Small and Medium Enterprise Business Normalization'

Signing of Business Agreement for Win-Win Recovery Support Promotion Program Utilizing Asset Purchase and Lease Program

BNK Gyeongnam Bank and KAMCO have joined forces to strengthen support for the normalization of small and medium-sized enterprises' management.

[Asia Economy Yeongnam Reporting Headquarters Reporter Song Jong-gu] BNK Gyeongnam Bank and KAMCO have joined forces to strengthen support for the "normalization of small and medium-sized enterprises (SMEs)."

On the 15th, BNK Gyeongnam Bank signed a business agreement with KAMCO for the "win-win recovery support promotion program using the Sale & Lease Back (S&LB) program."

The Sale & Lease Back (S&LB) program is a program in which KAMCO temporarily purchases assets such as factories and office buildings of companies experiencing liquidity crises, then leases them back to supply liquidity to the companies and support their continued operations.

This business agreement was prepared to support the normalization of management for local SMEs facing difficulties due to the prolonged COVID-19 pandemic by utilizing the mutual corporate support programs of BNK Gyeongnam Bank and KAMCO.

According to the agreement, KAMCO will receive recommendations from BNK Gyeongnam Bank for companies needing financial structure improvement due to liquidity shortages and support them through the S&LB program, while BNK Gyeongnam Bank plans to provide liquidity support to companies supported by KAMCO’s S&LB program.

The two institutions plan to build a linked support system through this agreement and complement each other’s corporate support programs to enhance the policy effects of corporate restructuring and management normalization support.

Choi Hong-young, President of BNK Gyeongnam Bank, said, “The agreement with KAMCO will be good news for local SMEs experiencing temporary liquidity crises. We hope it will contribute to the normalization of management for local SMEs and become a driving force to revitalize the sluggish local economy. Going forward, BNK Gyeongnam Bank and KAMCO will continue to strengthen their role as reliable partners supporting SMEs.”

Kwon Nam-joo, President of KAMCO, said, “Through joint support with BNK Gyeongnam Bank, we expect to provide practical help for SMEs facing management difficulties to overcome crises and make a fresh start. KAMCO will continue to expand cooperation with various institutions to maximize the synergistic effects of the S&LB program.”

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