Korea Asset Management Corp. (KAMCO) has set out to strengthen the Business Recovery Support Center to augment its role to become a hub for structural reform for SMEs. That’s in addition to its traditional function to give liquidity support to SMEs in dire operational conditions to get them back on track again.
The company has been operating the Sale and Lease Back Program since 2015 and as of the end of 2017, the company helped 17 firms by buying their assets and leasing them back to them, which took care of their liquidity problems, by buying 232 billion won worth of assets and leasing them back.
Recently, the company began to diversify its programs to support the issuance of bonds and other ways related to securing funds in the financial market, requiring the paradigm for structural reform to change to private investments.
The Business Structural Reform Center that KAMCO set up recently is meant to go with changes supporting the structural reforms focused on the financial market.
The center’s local branches in 27 locations across the country will run the corporate structural reform platforms through its online structural reform platforms to match investors and the companies looking for financial support. The primary focus will be on SMEs with problems.
The investors can go over the information on the companies on the platforms, while the companies can send their financial information to potential investors. The companies that seek financial help save the expenses that they would have otherwise spent to find investors, as the platform provides only information that was verified by KAMCO.
Korea Asset Management Corp. clinched the 27th Dasan Financial Gold Award for 2017 in the public service sector for doing an excellent job providing financial support to households, business firms and the public sector. Korea Asset Management is helmed by President Moon Chang-yong.
Ever since its launch in 1962 as the first professional firm to cleanse its defaulted financial assets, the company took care of financial default cases following major financial crises at home and abroad, including the 1997 foreign exchange crisis, the 2003 credit card crisis and the 2008 global financial crisis, playing the role of troubleshooter, helping to stabilize the domestic financial market and its development.
Kamco has been touted as strengthening the credit management base centered on the revival of debtors, centralizing the debts of the public financial institutions defaulted assets and cleaning up small long-term debt defaulters.
Kamco also earned credit for taking care of household debts, job seeking and debt adjustments with tailor-made measures and support systems for poor people to help them recover their credit.
Kamco also has been given credit for the introduction of the sale and lease system for SMEs suffering from short-term financial problems to take care of their financial problems. The company also was given due recognition for its introduction of the shipping fund and infrastructure for corporate restructuring vehicles that are ever ready for the normalization of corporate operation and stable employment.
Kamco also has been credited with its operation of the integrated corporate support program for SMEs and medium-sized firms that have technologies, but not able to sustain their operations. The company’s plans under consideration to boost its own value by publicly owned lands have also won much accolades.
The company also won recognition for its moves to boost the public services and budgetary increases by setting up an administrative assets management system.
