Jungjingong Receives 'Excellent' Rating for Lottery Fund Project Performance Evaluation for 3 Consecutive Years

by Kim Chulhyun

Published 15 Jul.2024 09:03(KST)

Support for Liquidity Securing of Innovative SMEs Lacking Credit and Collateral Capacity

The Small and Medium Business Corporation announced on the 15th that it has received the ‘Excellent’ rating for three consecutive years in the ‘2023 Lottery Fund Project Performance Evaluation’ conducted by the Ministry of Economy and Finance’s Lottery Commission.

The Corporation has been providing policy funds through the lottery fund to small and medium ventures that have technological capability and business potential but lack credit and collateral capacity. In particular, it was recognized for its contribution to revitalizing the regional economy and overcoming the crisis of regional extinction by newly establishing 32 new industries in non-metropolitan areas to intensively support them, aiming to resolve the polarization between metropolitan and non-metropolitan regions.

Small and Medium Business Corporation

Since 2004, the Corporation’s lottery fund project has been receiving annual allocations of lottery funds from the Lottery Commission to provide low-interest policy funds to small and medium ventures. This year, it plans to focus on supporting innovative small and medium ventures and startups facing difficulties in financing by utilizing 72.8 billion KRW worth of lottery funds.

Kim Moon-hwan, Director of Corporate Finance at the Corporation, said, “We will actively support innovative venture startups struggling with financing due to prolonged complex crises such as high interest rates and high inflation,” adding, “We will take the lead in establishing a growth foundation for startup companies and resolving liquidity difficulties.”