'Thirty Years of Gyeonggi Shinbo': Anniversary Ceremony on the 19th... 'Advancing Financial Support and Strengthening Policy Guarantees'

In celebration of its 30th anniversary, Gyeonggi Credit Guarantee Foundation (Gyeonggi Shinbo) has announced plans to further advance its financial support system by leveraging artificial intelligence (AI) and other technologies, while also strengthening various policy guarantee programs. Additionally, the foundation will proactively provide special management funds to help businesses respond to the crisis stemming from instability in the Middle East. Last month, Gyeonggi Shinbo became the first local credit guarantee foundation in the nation to surpass a cumulative guarantee supply of 60 trillion won.

On March 19, Gyeonggi Shinbo held its 30th anniversary ceremony at the auditorium on the third floor of its headquarters in Gwanggyo Convergence Town, Suwon, reaffirming its commitment to a new leap forward.

Taking this 30th anniversary as an opportunity, Gyeonggi Shinbo has decided to further enhance its financial support system through internal innovation, including an AI transformation and data-driven operations.

On the 19th, Kyonggi Credit Guarantee Foundation held a rice cake cutting ceremony at its 30th anniversary celebration, attended by Chairman Si Seokjung (center) and others. Provided by Kyonggi Credit Guarantee Foundation

Furthermore, with increasing volatility in oil prices and exchange rates due to the worsening situation in the Middle East, the management uncertainty faced by small and medium-sized enterprises (SMEs) and small business owners in the province is also rising. In response, Gyeonggi Shinbo, together with Gyeonggi Province, will prepare the “Special Management Fund for Middle East Crisis Response” and take preemptive action to address the crisis.

In addition, the foundation will continuously improve the application process and user convenience to make it easier and faster for customers to access a range of policy guarantee products, such as the “Gyeonggi Province Small Business Support Fund.”

Gyeonggi Shinbo is also strengthening its support by providing tailored management consulting to small business owners with medium or low credit ratings, thereby combining guarantee services with consulting. Notably, guarantees accompanied by consulting have shown a default rate up to 2.58 percentage points lower than ordinary guarantees.

Gyeonggi Credit Guarantee Foundation last month became the first in the nation to surpass 60 trillion won in guarantee supply support. Gyeonggi Credit Guarantee Foundation

Previously, on February 24, Gyeonggi Shinbo became the first local credit guarantee foundation nationwide to achieve a cumulative guarantee supply of 60 trillion won. This represents an increase of 10 trillion won in just two years since passing the 50 trillion won milestone in 2024. This achievement is the result of the foundation’s continuous expansion of financial support for SMEs and small business owners struggling amid the economic downturn. According to Gyeonggi Shinbo, these efforts have contributed to the revitalization of the local economy, with an estimated 7.971 trillion won in induced production and the creation of 29,107 jobs in the province over the past two years.

Si Seokjung, Chairman of Gyeonggi Shinbo, stated, "Over the past 30 years, Gyeonggi Shinbo has served as a ladder of hope for small business owners and SMEs, protecting and nurturing them, and opening up new opportunities for the future. For many facing difficulties due to insufficient collateral, we have provided a ladder of opportunity through our guarantees. Going forward, Gyeonggi Shinbo will strive to become not just an institution that provides guarantees, but a comprehensive financial services provider, offering essential management consulting and solutions for business success, as well as management information and education."

Meanwhile, on this day, Gyeonggi Shinbo presented plaques of appreciation to organizations that have contributed to its growth and development over the past 30 years, including the Gyeonggi Province SME CEO Association, the SME Convergence Gyeonggi Association, the Gyeonggi Province Small Business Association, the Korea Federation of Merchants Gyeonggi Branch, and the Korea Women Entrepreneurs Association Gyeonggi Branch.

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