KB Capital Signs Business Agreement with SGI Seoul Guarantee Insurance to Support Freight Truck Owners

Non-Face-to-Face Pre-Settlement Service Based on Freight Fee Accounts Receivable
"Securing Liquidity for Truck Owners, Supporting Business Stabilization"

KB Capital announced on August 27 that it had signed a financial business agreement for a freight transport fee pre-settlement service with SGI Seoul Guarantee Insurance at the KB Capital headquarters in Seocho-dong, Seocho-gu, Seoul on the 26th.

Bin Jungil, CEO of KB Capital (right), and Cho Youngrok, Head of Sales Division at SGI Seoul Guarantee Insurance, are taking a commemorative photo after signing a business agreement at the KB Capital headquarters in Seocho-dong, Seocho-gu, Seoul on the 26th. KB Capital

KB Capital has previously provided low-interest loans for commercial vehicle purchases and principal repayment deferral programs, where only interest is paid for a certain period, to freight truck owners. Through this new agreement, the company plans to expand practical liquidity support for these truck owners.

The pre-settlement product is a financial service in which KB Capital pays the freight fee to the truck owner immediately after the delivery is completed and later receives repayment from the shipping company.

According to KB Capital, it takes an average of 45 days for a truck owner to actually receive the freight fee after completing a delivery.

The company explained that it planned the pre-settlement financial service based on freight fee accounts receivable. Together with Seoul Guarantee Insurance, KB Capital will support accounts receivable factoring to help improve the cash flow of freight truck owners.

The entire process of the pre-settlement service, from application to payment, is conducted through a dedicated non-face-to-face channel for truck owners. Workers in the freight transport industry can use the service regardless of time or location.

KB Capital plans to enhance financial accessibility for freight truck owners through support for the pre-settlement service.

Bin Jungil, CEO of KB Capital, stated, "The pre-settlement service will help reduce the financial burden on freight truck owners and support a stable transport environment. Based on this business agreement with Seoul Guarantee Insurance, we will expand inclusive finance to provide practical assistance to the freight transport industry, which is currently underserved by the financial sector."

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