Korea Federation of Micro Enterprises Partners with Korea Credit Guarantee Foundation Association to Enhance Financial Support for Micro Businesses
Discussion on Expanding Policy-based Financial Support and Improving Accessibility
The Korea Federation of Micro Enterprises announced on August 5 that it had held a business agreement (MOU) signing ceremony and a discussion meeting on financial difficulties with the Korea Credit Guarantee Foundation Association to strengthen support for local economic revitalization and financial assistance.
The Korea Federation of Micro Enterprises signed a business agreement with the Korea Credit Guarantee Foundation on the 5th at the Korea Federation of Micro Enterprises main conference room in Seoul. The Korea Federation of Micro Enterprises
View original imageThe signing ceremony took place that day in the main conference room of the Korea Federation of Micro Enterprises in Seoul. It was organized to directly hear the voices of micro business owners struggling due to sluggish domestic demand and increased financial burdens, and to seek practical support measures.
According to the agreement, the two organizations will establish a system for continuous feedback, and will closely cooperate to enhance financial policies for micro businesses, including expanding the range of recipients for policy-based financial support and improving accessibility.
During the subsequent discussion, the Korea Federation of Micro Enterprises requested the development of a customized credit evaluation model for micro business owners and the expansion of additional loan support for those with a good repayment history.
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Song Chiyoung, President of the Korea Federation of Micro Enterprises, stated, "Credit guarantee foundations nationwide are at the forefront of providing policy funds to micro business owners and are invaluable partners in their businesses. This business agreement will be an important opportunity, not only for cooperation between the two organizations but also for delivering a message of hope to micro business owners."
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