Korea Credit Guarantee Fund (KODIT) held a ceremony to mark its 47th anniversary at KODIT headquarters in Daegu on June 1.
At the anniversary event, KODIT pledged to fulfill its intrinsic roles as a policy financing institution responsible for overcoming a national economic crisis and driving innovative growth amidst the weak economic growth momentum, caused by the sagging national economy and sluggish exports.
In particular, KODIT plans to prioritize coping with multiple crises by supplying liquidity to companies who are grappling with difficulties, caused by high interest rates, and aggressively helping small business owners normalize management, who have endured the crisis caused by the COVID-19 pandemic.
To this end, KODIT has raised its aggregate guarantee amounts for this year to 89.7 trillion won, an increase of 9.4 trillion won compared to the previous year.
KODIT plans to raise growth potential of future industries by concentrating policy funds to the government’s five priority, strategic businesses, such as nurturing mid-size export superstars, unicorn ventures and SMEs.
KODIT Chairman Choi Won-mok delivers a speech at a ceremony to mark its 47th anniversary at KODIT headquarters in Daegu on June 1.
KODIT Chairman Choi Won-mok said, “KODIT has grown together with SMEs by overcoming numerous hardships and difficulties for the past 47 years, and let us move forward without wavering for the next 50 years through endless innovation and changes so KODIT can become an integrated corporate support solution institutions beyond guarantee, trusted by people and customers.”
Meanwhile, during the event, long-time serving employees were given a plaque of appreciation for their efforts and dedication, and labor and management jointly declared their pledge to put into practice ethics management.
KODIT executives and staffers took time out to look back at the past 47 years’ through events such as KODIT’s quiz contest and a photo exhibition.
KODIT was established on June 1, 1976 to provide support to SMEs, which had been left in a tough spot without any government backing, which focused on conglomerates to drive fast growth of the national economy during the 1970s.
KODIT has supplied about 1,100 trillion won in aggregate guarantee amounts since its establishment.
KODIT has contributed to spearheading efforts to minimize any shocks to the national economy and a foster a fast economic recovery whenever the national economy was faced with crises, such as the 1997 Asian economic crisis, financial crises and the economic crisis which was caused by the pandemic.
KODIT Strikes MOU on Innovative Growth with Innopolis Foundation
Korea Credit Guarantee Fund (KODIT) inked an MOU on innovative growth of science and technology-based companies with Innopolis Foundation, KODIT said on May 22.
Under the deal, both institutions agreed to provide support to outstanding science and technology-based companies’ smooth commercialization and help them cope with a multitude of crises related to each institution’ support projects.
KODIT plans to supply financial services tailored to guarantee startups, targeting science and technology-based companies, such as R&D companies, advanced technology companies and R&D support companies recommended by Innopolis Foundation.
