Machinery Equipment Construction Mutual Aid Association Marks 30th Anniversary, Proclaims "A 100-Year Future Through Innovation"
Held a ceremony marking its 30th anniversary on November 12.
The Machinery Equipment Construction Mutual Aid Association said it held a ceremony marking its 30th anniversary at the Grand Ballroom of The Westin Josun Seoul on Thursday, November 12.
Held under the slogan “30 Years of Building Trust, Opening the Future Through Innovation,” the ceremony presented Ministry of Land, Infrastructure and Transport Minister’s Commendations to individuals who contributed to establishing sound transaction practices in the machinery equipment industry, and plaques of appreciation to former steering committee chairpersons who contributed to the association’s growth and the advancement of its members’ interests.
The association also unveiled a new vision for its future: “A Leap Forward on Trust, Opening a 100-Year Future Through AI Innovation.” Centering its efforts on a mid-term management plan, the association aims to improve the safety and efficiency of asset management and further enhance convenience for its members through AI-driven work innovation and the advancement of digital financial services.
Founded in May 1996 with approval from the then Ministry of Construction and Transportation, the association began with 3,221 companies. As of the end of 2025, it had grown to 10,054 member companies and total assets of KRW 1.5495 trillion. Starting with a focus on guarantees, it expanded its business to include lending and eight mutual aid products. More recently, it has broadened the benefits and convenience available to members in various ways, including lowering guarantee and mutual aid contribution rates and expanding non-face-to-face services such as Self-Guarantee and Kakao Guarantee.
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Choi Ungu, the acting chairman, said, “The association’s 30-year history is one of members and the association standing together, trusting one another and overcoming difficult times. Building on the trust of the past 30 years, we will use AI and digital innovation to become an even more dependable financial partner, closer to our members, and work together to open a 100-year future for the machinery equipment industry.”
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