Korea Credit Guarantee Fund (KODIT) has inaugurated the Business Analytics System on AI (BASA), the world’s first corporate analytics solution combining the analysis capabilities KODIT has accumulated over the past 46 years and innovative technologies such as AI and big data.
KODIT is the nation’s biggest financial institution responsible for offering credit guarantee worth about 79 trillion won to roughly 600,000 SMEs. The BASA service is designed to help SMEs with insufficient time and funds undergo a company diagnosis free of charge as if individuals go through a physical examination.
Any applicant company can receive an intelligent company diagnosis report diagnosing a variety of risks, including intrinsic dangers, marketing, industry and technology dangers, as well as its standing compared to the industry average and future response strategies.
The BASA service will allow applicant companies to seize opportunities for growth by grasping their weak and strong points, dangers and opportunities objectively and managing risking in a systematic fashion.
Meanwhile, KODIT will have a pilot operation period after launching the BASA service to look at market demand and responses, and start the second half the institution’s plans to launch the data-based credit information business in a full-fledged fashion.
KODIT plans to supply corporate processed and analysis data, owned by the institution, and innovation solutions to the public sector, such as local autonomous governments and the private sector, including financial institutions on a gradual basis.
KODIT CEO & Chairman Yoon Dae-hee said, “The BASA service, accessible by SMEs with insufficient time and fund, has been launched, and more SMEs are hoped to make the most of the service and receive a great help in managing their credit and securing competitiveness.”
KODIT will redouble efforts to supply innovative financial services necessary for them, he added.
KODIT Supplies 820 Billion Won with Issuance of P-CBO to Companies Buffeted by Pandemic
Korea Credit Guarantee Fund (KODIT) will issue the Primary Collateralized Bond Obligation (P-CBO) worth 820 billion won, the financial institution said on March 30.
KODIT will offer 820 billion won in financial support, including 710 billion won in new funds, with the issuance of P-CBO benefiting two large-sized, 32 mid-size and 203 small-sized companies.
The latest issuance of P-CBO represents a 60 percent year-on-year jump over the same of the previous year.
The surge is attributable to an increasing number of companies which cope with upcoming interest hikes amid continuous uncertainties of the financial market and preemptively secure funds.
A view of Korea Credit Guarantee Fund Headquarters in Daegu. (Photos: KODIT)
KODIT Offers Credit Guarantee for Joint Project with Cooperative Companies of Samsung Electronics
Korea Credit Guarantee Fund will offer credit guarantee worth a combined 18.1 billion won to Samsung Electronics’ eight mid-size companies and SMEs which participate in a joint project to produce high-efficiency, customized refrigerated home appliances.
The project calls for developing a super high-performance vacuum insulation panel necessary of mass-producing refrigerated home appliances and a shift into modularization in a parts production mode to cope with rising demand for customized home appliances.
The project is expected to reduce waste and lower electricity consumption, thus contributing to reducing greenhouse gas emissions and building the carbon neutrality ecosystem.
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