Chae Byeong-ho (left), standing director of the Korea Credit Guarantee Fund, and Jang Moon-ho, deputy president of Suhyup Bank, pose for a photo at the MOU signing ceremony for the promotion of non-face-to-face and digital finance, held at Suhyup Bank's headquarters on Monday. [Korea Credit Guarantee Fund]
Chae Byeong-ho (left), standing director of the Korea Credit Guarantee Fund, and Jang Moon-ho, deputy president of Suhyup Bank, pose for a photo at the MOU signing ceremony for the promotion of non-face-to-face and digital finance, held at Suhyup Bank's headquarters on Monday. [Korea Credit Guarantee Fund]

The Korea Credit Guarantee Fund announced Tuesday that it has signed a memorandum of understanding with Suhyup Bank to promote non-face-to-face and digital finance.

The agreement aims to strengthen linkages between the two institutions' non-face-to-face platforms and improve financial access for small and medium-sized enterprises through digital business cooperation.

Under the MOU, the two institutions plan to deepen their cooperative framework for delivering innovative digital financial services, including the joint development of non-face-to-face financial products, corporate data sharing and network building.

A bank-linked Easy-One guarantee product, scheduled for launch in the first half of next year, will allow corporate customers to handle everything from guarantee consultations to loan execution through a bank's non-face-to-face platform — without visiting a branch.

The arrangement is expected to lower financing barriers for maritime and fisheries small and medium-sized enterprises that face geographic and time constraints in accessing Suhyup Bank's services, while also improving overall convenience.

The Korea Credit Guarantee Fund also plans to supply 7 trillion won ($5.07 billion) in liquidity to the market in the second half of this year to help build a financial safety net for businesses and foster advanced industries.

"This agreement will serve as an opportunity to meet the diverse financial needs of regional industries, including maritime and fisheries sectors, and to improve financial access for small and medium-sized enterprises," said Chae Byeong-ho, a standing director at the fund. "Going forward, the fund will lead efforts to eliminate financial blind spots and advance inclusive finance through active collaboration with financial institutions."


hyuk@heraldcorp.com