Military Mutual Aid Association Maintains Top Credit Rating (e-1) for 17 Consecutive Years

The Military Mutual Aid Association (Chairman Jeong Jae-gwan) has succeeded in maintaining the highest credit rating for 17 consecutive years.

The Military Mutual Aid Association received a ‘Corporate Credit Rating Grade e-1 (AAA)’ in the 2023 corporate credit evaluation for submission to the Public Procurement Service and public institutions from the credit rating agency NICE D&B. This grade is equivalent to the AAA credit rating of general corporate bonds.

NICE D&B evaluated this credit rating by stating, “The transaction creditworthiness of the Military Mutual Aid Association is at a level possessing the highest commercial performance capability.” The corporate credit rating for public institution bidding is divided into 10 grades, from the highest grade ‘e-1’ (AAA) to ‘e-10’.

Meanwhile, the Military Mutual Aid Association recorded a net income of 276.8 billion KRW last year despite paying 301 billion KRW to members for interest and welfare expenses. As of the end of last year, the total assets of the Military Mutual Aid Association amounted to 14.8611 trillion KRW, an increase of 493.8 billion KRW compared to the previous year. The capital surplus, which is the amount remaining after paying members’ principal and interest in a lump sum, reached 1.3074 trillion KRW, the highest level ever.

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