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KOREA CREDIT GUARANTEE FUND
Contents
SMEs in KoreaⅠ
Credit Guarantee Scheme in KoreaⅡ
An overview of KODITⅢ
Credit Guarantee System of KODITⅣ
Ⅴ Performances
Ⅵ Intensive Rescue Plan in 2009
SMEs in KoreaSMEs in KoreaⅠ
I. SMEs in KoreaI. SMEs in Korea
1. The Scope of SMEs
▪▪ Criteria : 1) No. of EmployeesCriteria : 1) No. of Employees2) Capital 2) Capital
No ofNo of
3) Sales3) Sales
IndustryIndustry No. of No. of EmployeesEmployees Capital Capital SalesSales
Manufacturing < 300 Capital ≤ $8M
Construction < 300 Capital ≤ $3M
Telecom & Multimedia < 300 Sales ≤ $30MTelecom & Multimedia 300 Sales $30M
Wholesales < 200 Sales ≤ $20M
Real Estate < 50 Sales ≤ $ 5MReal Estate < 50 Sales ≤ $ 5M
I. SMEs in KoreaI. SMEs in Korea
2. Korean SMEs by Industry [As of the end of Yr 2007]
Total No. of Enterprises
Wholesale& Retail
28%
Construction 3%
2,974,185
Total No. of Employees
Services57%
28%
Manufacture11%
11,149,134
[By No. of Enterprises]
I. SMEs in KoreaI. SMEs in Korea
3. Status of SMEs in Korea [As of the end of Yr2007]
SME (99%) LNo of enterprises
▪▪ Total: 2,976,646SME 2 974 185enterprises
No ofSME (88%)
L▪▪
SMEs: 2,974,185
Total: 12 612 692No of employment SME (88%)
L(12%)
▪▪ Total: 12,612,692SMEs: 11,149,134
T t l 1 049billi USDGDP SME (49%) Large (51%)▪▪ Total: 1,049billion USDSMEs: 514billion USD
ExportsSME (31%) Large (69%)▪▪ Total: 372billion USD
SMEs: 115billion USD
I. SMEs in KoreaI. SMEs in Korea
4. SMEs Financing
▪▪ Disadvantageous Environment for SMEsDisadvantageous Environment for SMEsI t t t SME LI t t t SME L◦◦ Interest rate on SME Loans Interest rate on SME Loans
(Unit: %)
▪▪ Main Obstacles for SME Financing Main Obstacles for SME Financing ◦◦ Insufficient Collateral Insufficient Collateral ◦◦ High Risk of DefaultHigh Risk of Default◦◦ High Transaction CostHigh Transaction Cost
Public Financing System for SMEs is Required!
Credit Guarantee System in KoreaCredit Guarantee System in KoreaⅡ
II. Credit Guarantee System in KoreaII. Credit Guarantee System in Korea
1. History
1961) E f d『『ThTh C dit G t R F d S t1961) E f d『『ThTh C dit G t R F d S t▪ 1961) Enforced『『TheThe Credit Guarantee Reserve Fund System』』
▪ 1967) Enacted『『TheThe SMEs SMEs Credit Guarantee Act 』』
▪ 1961) Enforced『『TheThe Credit Guarantee Reserve Fund System』』
▪ 1967) Enacted『『TheThe SMEs SMEs Credit Guarantee Act 』』
▪ 1976) Founded Korea Credit Guarantee Fund (KODIT)▪ 1976) Founded Korea Credit Guarantee Fund (KODIT)
▪ 1989) Founded Korea Credit Technology Guarantee Fund (KOTEC)
▪ 1999) Enacted『『The Regional Credit Guarantee Foundation Act』』
▪ 1989) Founded Korea Credit Technology Guarantee Fund (KOTEC)
▪ 1999) Enacted『『The Regional Credit Guarantee Foundation Act』』1999) Enacted The Regional Credit Guarantee Foundation Act』』
▪ 2000) Established Korean Fed. of Credit Guarantee Foundation
1999) Enacted The Regional Credit Guarantee Foundation Act』』
▪ 2000) Established Korean Fed. of Credit Guarantee Foundation
- 8 -
II. Credit Guarantee System in KoreaII. Credit Guarantee System in Korea
2. Credit Guarantee Institutions
Institution TargetBusiness
Source ofFunding
SupervisoryOrganization
KODIT(1976~) General
①Central Government②Banks[(0 225%±α)× SME L ]
FinancialServices
Commission[(0.225%±α)× SME Loans] Commission
KOTEC Tech- ①Central Government FinancialKOTEC(1989~) Oriented
Venture②Banks[(0.135%±α)× SME Loans]
ServicesCommission
①G t16 CGFs(1999~)
Small& Micro
①Government②Local Government③Banks
Small & MediumBusiness Admin.
- 9 -
[(0.02%±α)× SME Loans]
II. Credit Guarantee System in KoreaII. Credit Guarantee System in Korea
3. Outstanding Credit Guarantee
Outstanding CG Percentage to GDP(Unit: Trillion KRW)
KODITKODIT
KODIT KOTEC 16CGFsKODIT
KOTEC
Total
KOTEC
KODITCG/GDP
Whole CG/GDP 16 CGFsKOTEC
16 CGFs
An overview of KODITAn overview of KODITⅢ
III. About KODITIII. About KODIT
1. Profile
▪▪ Status: NonStatus: Non profit Special Legal Entity backed by Governmentprofit Special Legal Entity backed by Government▪▪ Status: NonStatus: Non--profit Special Legal Entity backed by Governmentprofit Special Legal Entity backed by Government
▪▪ Establishment : 1976Establishment : 1976
▪▪ Capital Fund : USD 4 billion (‘09)Capital Fund : USD 4 billion (‘09)
▪▪ Outstanding Guarantee : USD 40 billion (‘09)Outstanding Guarantee : USD 40 billion (‘09)
▪▪ No. of Employees : 2,200No. of Employees : 2,200
▪▪ Biz Network : 1 Head officeBiz Network : 1 Head officeBiz Network : 1 Head officeBiz Network : 1 Head office
8 Regional HQs, 99 Branches 8 Regional HQs, 99 Branches
III. About KODITIII. About KODIT
2. Governance
Financial Services C i i
Ministry of Strategy & Fi
Small & Medium Bi Ad i i t tiCommission
OperationSupervision
& Finance
Budget Planning
Biz Administration
Capital ContributionSupervision Contribution
Board of PolicyBoard of Policy
Chairman & CEOChairman & CEO
- 13 -
III. About KODITIII. About KODIT
3. Contribution to KODIT
Unit : million USD
1,440
664590
457
262388 1,584
111255255443 79
457
457 111255255
- 14 -
III. About KODITIII. About KODIT
4. Business Line
Infrastructure Infrastructure Credit Credit ConsultingConsulting
GuaranteeGuaranteeCredit Credit
GuaranteeGuaranteeCredit Credit
InsuranceInsuranceGuaranteeGuarantee InsuranceInsuranceIntegrate Integrate ManagementManagementConsultingConsulting
Credit Guarantee Credit Guarantee for helpingfor helping Consulting Consulting
for SMEsfor SMEsCredit Guarantee Credit Guarantee for Liability of for Liability of
Credit Insurance Credit Insurance for SME’s Trade Receivablesfor SME’s Trade Receivables
p gp gPrivate Investment Co.Private Investment Co.to invest on SOCto invest on SOC
yypromising SMEspromising SMEsto Banksto Banks
Credit Guarantee System of KODITCredit Guarantee System of KODITⅣ
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
1. Basic Framework
Contribution Supervision
Gov.
Application Credit Guarantee
Capital C t ib ti
1 3
Credit Review
2SMEs BanksKODITContribution
Loan 4
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
2. Type of Credit Guarantee
▪▪ Guarantee for Bank LoansGuarantee for Bank Loans▪▪ Guarantee for Bank LoansGuarantee for Bank Loans
▪▪ Commercial Bills GuaranteeCommercial Bills Guarantee
▪▪ Guarantee for Bidding, Contract, etc.Guarantee for Bidding, Contract, etc.
▪▪ Guarantee for Payment Guarantees of BanksGuarantee for Payment Guarantees of Banks
▪▪ Tax Payment GuaranteeTax Payment Guarantee
▪▪ PP--CBO GuaranteeCBO GuaranteePP CBO GuaranteeCBO Guarantee
▪▪ OthersOthers
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
[Ref.] P-CBO Guarantee
▪▪ PPrimary rimary CCollateralized ollateralized BBond ond OObligation bligation
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
[Ref.] P-CBO Guarantee
Hi t- First introduced in July 2000
I 2008 KODIT d P CBO t▪▪ History - In 2008, KODIT resumed new P-CBO guaranteesto alleviate the financial straits of SMEs.
▪▪ Performances• Outstanding Guarantee 2,630M. USD• Capital Fund 640M USDPerformances
(as of Dec.2009)
• Capital Fund 640M. USD• Leverage Ratio 4.1 times• Enterprises Guaranteed 1 2602009) Enterprises Guaranteed 1,260• Supply Goal in 2010 1,700M. USD
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
3. Credit Rating System (CCRS)
F / S Quantitative Factor
QualitativeFactorCash flow Credit Rating
Industry Grade
KS1 ~ KS3
KA1 KA4
Quant. score Qual. score
Industry Grade KA1 ~ KA4
KB1 ~ KB4
Total ScoreKC1 ~ KC4
KD1 ~ KD3
Pre-Grade
Override
KE1 ~ KE3
Final Grade
ⅣⅣ. Credit Guarantee System of KODIT. Credit Guarantee System of KODIT
4. Credit Line & Coverage Ratio
▪▪ Credit LineCredit Line√√√ √ NormalNormal Ceiling for a Single Enterprise: Ceiling for a Single Enterprise: KRW 3 billionKRW 3 billion√ √ SpecialSpecial Ceiling for a Single Enterprise: Ceiling for a Single Enterprise: KRW 7 billionKRW 7 billion
(Only Applied when necessary for national economy)(Only Applied when necessary for national economy)
▪▪ Coverage RatioCoverage RatioggRating KS1 KS2~KS3 KA1~KA4 KB1~KB3 KB4~KE3
Percentage 50% 70% 75% 80% 85%
√ √ Long term Users (over 10yrs) : Long term Users (over 10yrs) : --5% 5% √ √ Gov. PolicyGov. Policy--related Guarantee : 100% related Guarantee : 100%
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PerformancePerformanceⅤ
ⅤⅤ. Performance. Performance
1. Credit Guarantee
Unit : million USD Unit : times
38,936
1210.4 12
8
10
7.8
9.09.29.1
9.8
7.9 8.08.5
7.8
6
4
0
2
Leverage ratio
※ Including P-CBO
ⅤⅤ. Performance. Performance
2. Credit Insurance
Unit : million USD Unit : times
1211.5
10.8
4,527
8
10
7.1 6.7
6
7.1
4.8 5.2
6.7
2
42.8
0
ⅤⅤ. Performance. Performance
3. Infrastructure Credit Guarantee
Unit : million USD Unit : times
4 145
12
1412.4 12.8 13.6
11.6
4,145
8
10
12
7.9
9.710.2
11.6
2
4
6
0
2
ⅤⅤ. Performance. Performance
4. Significant Role on Korean Economy
The Growth Rate of CGThe Growth Rate of GDP
The GrowthRate of CG supplied
The growth Rate of GDP
ⅤⅤ. Performance. Performance
4. Significant Role on Korean Economy
▪▪ Credit Guarantee-Effect on Korean Economy√
Effect on National Economy Numerical Value
√ As of the Yr 2008, CG Supplied: 24.7Billion US$
Effect on National Economy Numerical Value
1 Effect on Production 890 Million USD
2 Effect on Value Added 420 Million USD
3 Eff t E l t 23 K P3 Effect on Employment 23 K. Persons
Intensive Rescue Plan in 2009Intensive Rescue Plan in 2009Ⅵ
ⅥⅥ. Intensive Rescue Plan. Intensive Rescue Plan
1. Liquidity Trap
Gov’t-Funds Target rate(%)
Unit : billion USD
Gov t Funds Target rate(%)
SME loan balance extended in local currency
6 00%360 0
337.9 340.3 342.7 345.7 347.4
350.2 350.9 350.2 5.00%
5.00%
6.00%
330 0
340.0
350.0
360.0
296.0
3.00%
2.50%
2.00% 2 00% 2.00% 2.00% 2.00% 2 00%
3.00%
4.00%
300 0
310.0
320.0
330.0
2.00% 2.00% 2.00% 2.00% 2.00%
1.00%
2.00%
270 0
280.0
290.0
300.0
0.00%260.0
270.0
07 08 09. 1 09. 2 09. 3 09. 4 09. 5 09. 6 09. 7
ⅥⅥ. Intensive Rescue Plan. Intensive Rescue Plan
Unit : million USD
2. Capital InjectionUnit million USD
government
Enterprise
27
banks
1,584
1,440104 74
‘07 ‘08
624555
‘0907 08 09
ⅥⅥ. Intensive Rescue Plan. Intensive Rescue Plan
3. Blanket Support to help SME financing
Unit : billion USDBalance of credit guarantee over years
37.0
40.0
50.0
25.0 25.6 24.9 26.9
24.9 23.7 23.1 25.4
30.0
9.0
17.2 15.7
18.1
10 0
20.0
-
10.0
'97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09'97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09
ⅥⅥ. Intensive Rescue Plan. Intensive Rescue Plan
4. System Reform
AsAs--waswas AsAs--isisAsAs waswas AsAs isis
Thank YouThank You
Yong-Ju, Chin
International Affairs Team
Website : www kodit co krWebsite : www.kodit.co.kr
E-mail: [email protected]