Boosts in
Support for SMEs

KODIT to channel credit guarantees to SMEs with growth potentials

The Korea Credit Guarantee Fund(KODIT) will focus on strengthening growth engines for the national economy and competitive edge of small and medium firms in the country.
KODIT will help search for new growth engines and promising companies fostering new talents to spurt their'continuous development.
KODIT will do its utmost to invigorate the new ventures of innovative type companies with big growth potentials. The company will also help expand the growth base for export, parts and material companies. It will also provide consultation to innovative companies with high growth potentials and provide them with credit guarantees.
KODIT is set to help further its SME customers by providing guarantee-oriented new financial products on a sustained basis to lead its support to the finances of SMEs, strengthening the linkage of guarantee and finance.
The company will especially work hard toward the increased asset liquidity, and e-trade to bring mutual growth of financial firms and SMEs.
KODIT will provide diversified financial opportunities to SMEs to take a lead in the financial market by building custom-tailored financial services to strengthen policy linkages to spur investment, and create jobs to close wealth gaps.
KODIT will also create measures to solve the gaps I the SME finances in preparation for the new the Bank of International Settlements agreement and also expand the electronics finance infrastructure such as Gateway System to support the comprehensive electronic commercial transactions.
KODIT's another major objective is to build up its independent status by strengthening risk management and reform. The company will push reform to set up a constant reform system for its long-term growth.
This year's reform effort will be focused on economic unstable factors such as the foreign exchange rate, oil prices, the presidential election and real estate prices.
The company plans to secure stability of its assets and soundness of its guarantee assets with a thorough management of risk factors following the build-up of its global risk management system.
The company will also work for discovering companies with great potentials for further growth to secure a stable guarantee base for a mid-to-long term growth prospect.
KODIT also will proceed with a number of measures to build a management strategy geared to customer satisfaction a top value in its operation. The move is aimed at making the company an integrated financial institution to support SMEs by providing services over and above their expectation by taking actions knowing before hand what they want.
The company also plans to strengthen its business headquarters and the customer team system at branches by locating the Hi-Plus teams up front at the branches.
The company will introduce the hub and spoke branch operation system by locating guarantee offices and mini-shops in the remote locations where customers are concentrated to be more close to customers. KODIT will reorganize its make-up with a mind to serve customers and boost the quality of its guarantee service to the extent that it would create a customer service that will be impressive to its customers.
The company will also expand its sharing management activity to boost the love of customers and trust in society with its social service activity in the poverty stricken areas of society.
The basic direction for KODIT's operation of its issuance of guarantees will be to boost the competitive power of SMEs by making their reform capacity strong. The company will also strengthen its credit guarantee support system strong through customer-tailored type and close to jobsite type guarantees.
KODIT plans to issue credit guarantees totaling 28.5 trillion won to boost SMEs to hike their business activities and upgrade their competitiveness. The company will provide support to next generation growth engine industries and service firms with great growth potentials to empower economic growth and create jobs. A total of 8 trillion won worth of credit guarantees will be provided to those companies with great growth potentials this year. nw

(from left photo) President Kim Kyu-bok of KODIT. President Kim shakes hands with Iinderjit Singh, chairman of Singapore Financial Assistance Promotion Corp. at his office in Seoul.

KODIT mascots at the entrance hall of KODIT building in Seoul.t