276 Holdings (CEO Shin In-geun) and C&Tech (CEO Kim Ki-deok) signed a strategic business agreement (MOU) during an event hosted by the Luxembourg Embassy in Korea at the Shilla Hotel Yeongbingwan on June 25.
This agreement aims to build a comprehensive cooperative relationship that includes joint development of a data-based credit rating model, joint marketing of B2B purchasing funds distribution solutions, and joint entry into overseas financial markets such as Vietnam.
The two companies will jointly develop a machine learning-based credit rating model that combines C&Tech’s collateralized asset data (AssetPro) and 276 Holdings’ accounts receivable transaction data. The model is an alternative credit rating solution for small and medium-sized enterprises that are in the blind spot of existing financial institutions’ credit ratings.
In addition, C&Tech will introduce Flow Pay, a production raw material pre-supply service of 276 Holdings, to its clients, and will also conduct joint marketing to secure liquidity for clients based on collateralized real estate.
276 Holdings CEO Shin In-geun said, “This agreement will serve as the foundation for a sophisticated credit rating system and innovation in the fund distribution structure for small and medium-sized enterprises in financial blind spots,” adding, “It has laid the foundation for joint advancement into overseas markets such as Vietnam and Luxembourg as well as the domestic market.”
Kim Ki-deok, CEO of C&Tech, said, “The combination of collateralized asset information and transaction data will become a highly reliable credit rating standard,” and “We aim to contribute to substantially improving the accessibility of funds for domestic and foreign companies beyond technological exchanges.”
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