Jungjinkong Holds 'Private Collaboration Financial Business Briefing'... "Private-Led SME Scale-Up"

Exploring Collaborative Strategies for Supporting Growth of SMEs and Ventures Led by the Private Sector

Chairman Kim Hak-do

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 16th that it held the '2023 Private Collaboration Financial Project Briefing Session' at the IBK Investment & Securities headquarters in Yeouido.

SBC organized the event to explore ways to expand support for small and medium-sized ventures led by the private sector. Chairman Kim Hak-do of SBC stated, "Due to the prolonged COVID-19 pandemic and the triple high (high inflation, high interest rates, high exchange rates) complex crisis, small and medium-sized ventures are facing dual hardships such as increased debt, rising financial costs, and logistics difficulties," adding, "Next year, SBC plans to strengthen cooperation with the private sector and comprehensively utilize various policy measures to supply liquidity to companies in crisis and support the growth of innovative companies with growth potential."

On this day, SBC’s project managers explained the overview of private collaboration financial projects such as ▲Scale-up Finance ▲Growth Sharing Loans ▲Factoring Finance ▲SBC Bond Issuance ▲Performance Reward Fund, as well as the direction for next year’s project implementation. Additionally, they discussed public-private collaboration plans and gathered opinions from private financial experts. SBC plans to actively review the experts’ opinions to establish detailed execution plans for each project and apply them to next year’s support policies.

Chairman Kim emphasized, "SBC supports the scale-up of small and medium-sized ventures through customized financial support according to their growth stages, and leads public-private collaborative finance at various touchpoints, including raising funds by issuing Small and Medium Business Promotion Bonds based on the national credit rating in addition to government budgets," adding, "I hope that through the activation of public-private collaboration, small and medium-sized ventures can overcome the economic complex crisis and continue innovative growth."

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