New CI 'KODIT'

Korea Credit Guarantee Fund unveils new CI symbolizing future vision, strategy

The Korea Credit Guarantee Fund held a ceremony on June 1 to declare its new corporate identity at the auditorium at its headquarters on the occasion of its 30th anniversary.
The company said the new CI was needed to represent the changes in its business areas and management environment. The new CI is meant to show off the Fund's new vision, and a modern image with friendly future value., the company said.
The new CI is made of English words, KODIT, to symbolize the company's creativity and its nature different from others and is a symbol of the company is vision to strengthen its independent base early and explore new business areas to become a sustainable "Hopeful Fund"renewing the determination to that end. KODIT will be used as communication name.
KODIT was taken from KOrea creDIT Guarantee Fund signifying the Fund's objective of becoming a leading and core organization in the creation of a credit economic society.
"O"and "D"represent the Fund's policy to maintain a sustainable unity and cooperation with SMEs. "O"letters in green are meant to show hope and development and "DIT"letters in blue are to indicate stability and trust, all to envision the Fund's futuristic image.
The Fund also adopted mascots with the name of "Shinyongee"for use in connection with the Fund's official events and public relations activities.
The Fund, since its establishment in 1976, had only 10,000 customer firms with 100 billion won in extended credit guarantees. But as of April this year, its extension of credit outstanding totaled 28 trillion won to 210,000 business firms.
In the past three decades since its start, the Fund provided a total of 300 trillion won in credit guarantees to help the growth of SMEs and the national economy.
In the past five years, the Fund created economic effects including 9,565,8 billion won worth of production, value-added portions amounting to 4,823,4 trillion won and jobs totaling 441,000.
The Fund, especially played a big role during the financial crisis by providing special credit guarantees to stem social and economic anxiety factors, playing the role of a social safety pin faithfully.
A number of critical points were made in connection with Korea's credit guarantee fund scale both at home and abroad, but the Fund's B/C ratio based on cost-benefit analysis showed that it recorded 3.2 times in 2003, 3.3 times in 2004, and 3.5 times in 2005, producing very policy results compared to the investment costs for the Fund.
During the second oil crisis in 1979, the Fund played a big role in the economic recovery and in the settlement of the real-name financial transactions. During the financial crisis of 1997, the Fund also made a big contribution to the early recovery from the crisis by preventing SMEs from going bankrupt and help solving jobless problems by issuing 45,285.7 billion won in credit guarantees.
Following the financial crisis, the Fund introduced the P-CBO guarantees from July, 2000 in order to help restore the financial market hurt deeply by the financial crisis. The Fund supported the issuance of a total of 17,203.3 billion won in bonds for early stabilization of the capital market in the country.
The Fund also introduced the small and medium firm bonds and supplied 1,435 billion won in credit guarantees to help SMEs to issue corporate bonds to solve their cash flow problems.
In addition, the Fund issued various special credit guarantees to help solve raw material procurement problems due to typhoon, bird flu and mad cow disease, playing the role of fire brigade to the national economy.
From 2005, the Fund introduced the guarantee related investment system to supply funds directly by the Fund to innovative SMEs with financial problems.
The Fund, for the first time, attracted funds from large corporations in connection with those large firms providing credit guarantees to SMEs under the guarantee agreement system and expanded the "live and let-live"cooperation culture between large and small business firms. The Fund has introduced the "Hope-KODIT 2008"vision and strategy to reform all areas of its management to be become independent from government support and expedite restructuring of SMEs. nw

KCGF Chairman Kim Gyu-bok