Korea Credit Information Secures 5 Billion KRW Investment... Surpasses 20 Billion KRW in Total
DGB Daegu Bank and IBK Industrial Bank Join as New Investors
Korea Credit Information Services (KCS), a credit rating agency specializing in sole proprietors, announced on the 7th that it has secured a total investment of 5 billion KRW from three companies: DGB Daegu Bank, IBK Industrial Bank of Korea, and Korea Credit Data (KCD). DGB Daegu Bank and IBK Industrial Bank of Korea are new investors. With this investment round, KCS's cumulative investment amount has surpassed 20 billion KRW.
Through this investment, KCS expects to solidify the foundation for strategic collaboration with its investors, DGB Daegu Bank and IBK Industrial Bank of Korea. Previously, personal business loans from primary financial institutions were mainly executed for high-credit borrowers due to the limitations of personal-centered credit evaluation models. KCS plans to leverage this investment to provide consulting that enables the use of differentiated business capability data and to cooperate in developing credit evaluation models.
Through its credit evaluation service for sole proprietors, ‘Credit Note,’ KCS has launched the ‘3-Minute Credit Rating Certificate Issuance Service,’ which allows business owners to check their credit rating within 3 minutes simply by authenticating through Hometax. Before applying for policy funds from the Seoul Credit Guarantee Foundation or the Small Enterprise and Market Service, the service also offers a pre-diagnosis function to determine eligibility for guarantees and policy funds and the likelihood of success if applied for.
KCS plans to expand the credit rating certificate service beyond submissions to the Korea ON-line E-Procurement System (KONEPS) and public institutions to private sector report areas such as apartment bidding and sales confirmation during transfers.
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Kim Sang-woo, CEO of KCS, said, “We have once again been recognized for our competitiveness by receiving investments from excellent financial institutions such as DGB Daegu Bank and IBK Industrial Bank of Korea.” He added, “Based on differentiated data models, we will collaborate with existing financial institutions to advance credit evaluations for sole proprietors and realize the vision of expanding formal financial opportunities for sole proprietors.”
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