"Instant Mobile Guarantees" Chungnam Credit Guarantee Foundation and KakaoBank Provide 30 Billion Won in Financial Support

KakaoBank Contributes 2 Billion Won, Reduced Guarantee Fees and Preferential Guarantee Ratios... Fully Non-Face-to-Face Process

They will provide digital financial support targeting small and medium-sized enterprises (SMEs) and small business owners facing a credit crunch.

The Chungnam Credit Guarantee Foundation is partnering with KakaoBank to supply a total of 30 billion won in credit guarantees. From application to approval, the process is handled via mobile in a non-face-to-face manner, improving both speed and accessibility.

On February 10, the Chungnam Credit Guarantee Foundation signed a "Special Contribution Financial Business Agreement for Financial Support to SMEs and Small Business Owners" with KakaoBank.

Under the agreement, KakaoBank will contribute 2 billion won, and the Chungnam Credit Guarantee Foundation will use these funds as a source to provide a total of 30 billion won in agreement-based guarantees.

Companies using the agreement-based guarantees will receive benefits that reduce their financial costs, including reduced guarantee fees and preferential guarantee ratios.

Leveraging their strength in operating mobile-centered financial platforms, the two institutions have made it possible to complete the entire process from guarantee application to screening and approval on a non-face-to-face basis.

Chairman Cho Sohang said, "This cooperation is aimed at providing faster and more convenient financial support to SMEs and small business owners struggling with a deteriorating business environment," adding, "We will enhance on-the-ground impact through swift execution."

The KakaoBank special contribution agreement-based guarantees can be applied for through the Chungnam Credit Guarantee Foundation's guarantee support app "Bojeung Dream" or at the branch office with jurisdiction over the business location.

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