Korea Credit Guarantee Fund Hosts "On-site Financial Support Briefing for SMEs"

The Korea Credit Guarantee Fund announced on November 6 that it had jointly hosted the "On-site Financial Support Briefing for SMEs" with the Korea-ASEAN Financial Cooperation Center.

(From the front row, sixth from the left) Jaemyun Lee, Economic Counselor at the Embassy of the Republic of Korea in Vietnam; Youngjik Lee, Head of the Korea-ASEAN Financial Cooperation Center; Yongju Kwak, Branch Manager of the Korea Credit Guarantee Fund Singapore Branch; and other seminar attendees are posing for a commemorative photo. Photo by Korea Credit Guarantee Fund

The event, held at the Hanoi Convention Center in Vietnam, was attended by major commercial banks operating in Hanoi, including Kookmin Bank, Shinhan Bank, Woori Bank, and Hana Bank, as well as venture capital firms based in Vietnam and Singapore, and local startup representatives.

This briefing is part of a program to expand ASEAN financial cooperation, jointly promoted by the Korea-ASEAN Financial Cooperation Center and the Korea Credit Guarantee Fund, based on the achievements of the financial support briefing held in Jakarta, Indonesia, in September. Held in Hanoi, a hub for manufacturing and technology startups, the event was organized with the support of the Embassy of the Republic of Korea in Vietnam to help domestic SMEs strengthen their local financing and global investment attraction capabilities.

The event began with a welcoming speech from the Korea Credit Guarantee Fund Singapore Branch Manager, followed by presentations on the Korea Credit Guarantee Fund’s technology evaluation and overseas expansion guarantee system, introductions to local financial products from each bank operating in Vietnam, a presentation on ASEAN investment trends and fundraising strategies by Vietnamese venture capital firms, and a session on investment strategies and procedures by Singaporean and Vietnamese venture capital firms. Subsequently, private IR sessions and one-on-one customized financial consultations were held for participating companies. Through this, a variety of financial solutions, including investment, guarantees, and loans, were provided.

On-site, the Korea Credit Guarantee Fund proposed overseas expansion guarantee support procedures totaling 4.5 billion KRW for five companies, presenting immediate and actionable financial solutions. The participating companies commented that the briefing, which brought together guarantee institutions, banks, and venture capital firms in one place to offer practical funding solutions, was highly beneficial for establishing local investment strategies.

Lee Youngjik, Head of the Korea-ASEAN Financial Cooperation Center, stated, "This Hanoi briefing is a case that demonstrates both the scalability of Korea-ASEAN financial cooperation and tangible results in supporting local companies. The center will continue to work closely with the Korea Credit Guarantee Fund and related organizations to strengthen the financial and investment ecosystem throughout ASEAN."

Kwak Yongju, Branch Manager of the Korea Credit Guarantee Fund Singapore Branch, said, "As a key base in the ASEAN market, the Singapore branch is providing comprehensive support for the global expansion of domestic innovative companies. Following Indonesia, we will also strengthen customized local financial solutions and global investment connections in Vietnam to actively support the overseas expansion of Korean companies."

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