Construction Guarantee (CG) established a new system to secure the transparency of asset management and establish a foundation to secure asset management in a systematic fashion, CG said on Sept. 27.
CG has emphasized the necessity to build an asset management system to step the transparency of the asset management situation, confirmed real-time information on investments and systematically manage asset management data.
To this end, CG designated Seri Tech Co. as the developer of the asset management system in late 2023 after the current management was inaugurated.
Previously, it went through a 13-month analysis on the design, screen development, testing and system stabilization before it was put into operation.
With the introduction of the asset management system, CG can offer asset management data, such as the size of asset management, the return on investment (ROI) and the current status of investment portfolio in real time, thus establishing a foundation for management’s timely decision-making and strengthening the transparency of CG’s investment.
The asset management system, outfitted with all data related to asset management and work processes, is capable of improving the efficiency, particularly treating all processes related to alternative investment, ranging from investment to screening, execution and post facto management.
The system can reduce the work treatment period of the “middle office” and “back office” by automatically obtaining investment asset integration exposure, calculated danger amounts and credit classification and prices.
Officials of Construction Guarantee (CG) pose with delegates of KGM of Trukiye, on the sidelines of the 2024 Global Infrastructure Cooperation Conference (2024 GICC).
CG Participates in 2024 GICC to Spur Overseas Construction Guarantee Support
Construction Guarantee (CG) participated in the 2024 Global Infrastructure Cooperation Conference (2024 GICC), hosted by the Ministry of Land, Infrastructure and Transport (MOLIT).
CG met with major overseas procurement companies and conducted activities to promote its overseas business, CG said on Sept. 26.
GICC is Korea’s biggest infrastructure international conference, being annually convened by MOLIT with the goal of supporting the winning of construction orders by inviting major overseas procurement company figures to Seoul.
During 2024 GICC, CG set up and operated one publicity booth and promoted country-by-country guarantee track records and its strengths and competitiveness, including its global network, to Korean and foreign construction company officials.
CG had one-on-one meetings with major overseas procurement companies and financial institutions, including KGM of Trukiye, Saudi Neom Company, El Salvador Ministry of Public Works and Transportation and the Central American Bank for Economic Integration (CABEI), and they discussed ways of securing optimal guarantee routes, including direct guarantees of Korean companies’ winning orders.
CG is Korea’s biggest construction guarantee agency with some 13,000 member contractors.
CG has signed counter-guarantee contracts with 24 Korean and foreign financial institutions. CG, offering overseas guarantees worth 2 trillion won annually, has outstanding guarantees worth 6.4 trillion won.
CG has served as a strong support to help Korean contractors land overseas construction orders.
A CG official said, “CG, armed with the industry’s top international credit ratings and accumulated knowhow, will not spare efforts to provide practical and direct financial support so that Korean construction companies can land orders in several parts of the world, including the Middle East and Southeast Asia and Europe.”
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