FSC Chairman meets with middle market enterprises in BusanDec 07, 2023

Chairman Kim Joo-hyun of the Financial Services Commission visited Busan on December 7 and held talks with local middle market enterprises to listen to their opinions on ways to better assist them in firm financing. At the meeting, Chairman Kim talked about the importance of middle market enterprises as a linchpin between SMEs and large companies in our economy. To better assist their financing needs, Chairman Kim said that the government will seek ways to (a) increase the maximum loan guarantee amount provided to middle market enterprises from KRW10 billion currently to up to KRW50 billion based on individual businesses' growth stage, (b) reduce the interest rate on primary collateralized bond obligations (P-CBOs), and (c) provide support through securitization of accounts receivable. The government plans to introduce comprehensive financial support programs for SMEs and middle market enterprises which will take into account suggestions made by companies.