'Listening Directly to the Voices of Small Business Owners' - Kamco Holds Relay Meeting for New Start Fund

[Financial News] Kamco (Korea Asset Management Corporation) announced on the 18th that it will hold a relay meeting to listen to on-site voices related to the New Start Fund, starting with a field meeting with consultation staff on the 22nd, and will be held three times in total. 
This is part of a thematic relay meeting following the 'Small Business Financial Difficulties On-Site Communication and Resolution Meeting' of the Financial Services Commission the previous day. It aims to check difficulties related to debt adjustment for small business owners and self-employed individuals who have experienced delinquency or debt adjustment or are at risk of delinquency.
First, on the 22nd, a field meeting with consultation staff will be held at Kamco CS located in Seo-gu, Daejeon, with about 10 consultation staff from the New Start Fund and the Credit Recovery Committee call center, attended by officials from the Financial Services Commission, Kamco, and the Credit Recovery Committee.
Then, on the 25th, a meeting for re-starters of the New Start Fund will be held at the Jeonbuk Regional Headquarters of the Small and Medium Business Corporation located in Wansan-gu, Jeonju, with about 10 small business owners and self-employed individuals who participated in educational programs for employment or re-startup after debt adjustment, attended by officials from the Financial Services Commission, Ministry of SMEs and Startups, Kamco, Credit Recovery Committee, Korea Credit Information Service, and the Small and Medium Business Corporation.
In the meeting, feedback on education courses and suggestions for employment and re-startup support programs for small business owners and self-employed individuals preparing for a comeback after debt adjustment will be listened to, and improvements will be derived through discussions among related agencies.
Finally, on August 5th, an 'Open Meeting for Small Business Owners in Busan' will be held at the Busan International Finance Center (BIFC) located in Nam-gu, Busan, where Kamco's headquarters is located, inviting 20 small business owners in the Busan area, attended by officials from the Financial Services Commission, Kamco, Credit Recovery Committee, and Korea Credit Information Service.
In this meeting, any small business owner or self-employed individual who is delinquent on loans from financial institutions or at risk of delinquency, or who has experienced debt adjustment such as the New Start Fund, can participate. Applications and registrations will be accepted through the New Start Fund website and the Credit Recovery Committee website.
The application period is from the 18th to the 30th. More detailed application-related information can be found on the New Start Fund website and the Credit Recovery Committee website.
Additionally, a 'New Start Fund Intensive Opinion Collection Period' will be operated for a month to activate a policy proposal task force composed of New Start Fund and Credit Recovery Committee consultants, operate an online bulletin board on the New Start Fund website, and further discover and check institutional improvement items.
Identified on-site difficulties will be resolved without delay, and necessary institutional improvements will be discussed with related agencies and implemented in September.
Jung Jeong-hoon, president of Kamco, said, "Through this relay meeting, we will listen carefully to the on-site voices of small business owners and self-employed individuals, and as the operating agency of the New Start Fund, we will spare no effort and support so that small business owners and self-employed individuals can feel the policy effects from the perspective of debt adjustment users."
Meanwhile, the New Start Fund received debt adjustment applications from 136,915 small business owners and self-employed individuals (with a debt amount of 22 trillion 875 billion won) by the end of June.
Among them, 37,950 people (with a principal debt of 3 trillion 398.8 billion won) signed agreements for purchase-type debt adjustment. The average principal reduction rate is about 70%. For intermediary-type debt adjustment, 41,619 people (with a debt amount of 3 trillion 107.3 billion won) confirmed debt adjustment, and the average interest rate reduction is about 4.8 percentage points (p).

 


sjmary@fnnews.com Seo Hye-jin Reporter