Korea Credit Guarantee Fund Partners with Kazakhstan's DAMU to Support SME Overseas Expansion

The Korea Credit Guarantee Fund will partner with the Kazakhstan SME Development Fund (DAMU) to support overseas expansion for small and medium-sized enterprises (SMEs) from both countries and to strengthen financial cooperation.

Seungjun Kang (third from the left), Chairman of the Korea Credit Guarantee Fund, and Farhat Sarsekeyev (fourth from the left), President of the Kazakhstan SME Development Fund, are posing for a commemorative photo at the "Business Agreement Ceremony for Supporting Local Expansion and Strengthening Financial Cooperation for SMEs" held at the Four Seasons Hotel Seoul on the 15th. Provided by KODIT.

On the 15th, the Korea Credit Guarantee Fund announced that it had signed a "Financial Business Agreement for Supporting Local Expansion and Strengthening Financial Cooperation for SMEs" with DAMU. The agreement was prepared ahead of the 1st Korea–Central Asia Summit to expand economic and financial cooperation between Korea and Kazakhstan. The objective is to support mutual market entry for SMEs from both countries and to improve access to local financial services.

DAMU is an SME support institution in Kazakhstan that provides credit guarantees, financial support, interest subsidies, and consulting services. Under the agreement, the two organizations will share information related to credit guarantees and SME financing, and work together to support the local expansion of SMEs from both countries. Human resource exchanges will also be promoted to strengthen operational capabilities.

The Korea Credit Guarantee Fund plans to broaden the scope of its cooperation with DAMU to include overseas expansion support for both countries' companies, thereby strengthening the financial cooperation infrastructure to enable domestic SMEs to conduct business smoothly in Central Asia.

The Korea Credit Guarantee Fund and DAMU have maintained a collaborative relationship since launching the Knowledge Sharing Program (KSP) in 2011. In 2022, they signed a financial business agreement to support SME growth, and in 2024, they conducted consulting to enhance Kazakhstan's credit guarantee system. Chairman Seungjun Kang of the Korea Credit Guarantee Fund said, "It is meaningful that, at a pivotal point for expanding economic and financial cooperation between the two countries, we are laying the foundation for future-oriented collaboration with DAMU. Based on the trust between our two institutions, we will support the global growth of SMEs from both countries."

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