Korea Credit Guarantee Fund (referred to as “KODIT”) held the Local Business Heads Meeting in Daegu on the 12th and announced its workplan for 2019.
The meeting decided to increase the amount of general guarantee by 1 trillion won to 46 trillion won and provide 2 trillion won in P-CBO guarantee to strengthen KODIT’s support for financing SMEs. KODIT also pledged to underwrite 20 trillion won in credit insurance to prevent chained bankruptsies of SMEs.
KODIT also plans to supply guarantees of 16 trillion won for startups as a part of enhanced support for job creation and prepararing for the fourth industrial revolution, 12 trillion on for exporters, 8.8 trillion won for fourth industrial revolution businesses, and 4.5 trillion won for job creating/sustaining businesses.
In order to “transform into a nuturing organization for innovative ecosystem for SMEs and venture businesses”, KODIT opened startup branches in Mapo and Ulsan in addition to increasing the number of working groups designated to supporting innovative startups to 10. KODIT newly established Platform Finance Department to support government-led policies on promoting big data and AI based platform economy.
Chairman Daehee Yoon voiced that “KODIT will do its best to play the role of primewater supporting innovative growth which is also a key pillar to the government’s economic policy this year.”