Miryang City Recognized for Outstanding Contribution to Small Business Credit Guarantee Fund

Miryang City in Gyeongnam Province has been selected as an excellent local government for its contribution to the 2024 Small Business Credit Guarantee Fund, hosted by the Gyeongnam Credit Guarantee Foundation. The city received a plaque of appreciation for its efforts.

The Gyeongnam Credit Guarantee Foundation is a public guarantee institution that supports the local economy by guaranteeing debts of small and medium-sized enterprises and small business owners in the province. The foundation has been recognizing cities and counties with excellent contribution performance and presenting plaques of appreciation since last year.

This year, Miryang City was selected for its outstanding contribution and will receive support, including priority allocation for the Gyeongnam Credit Guarantee Foundation’s own small business management guidance project.

Since signing a contribution agreement with the Gyeongnam Credit Guarantee Foundation in 2020, Miryang City has contributed 3.4 billion won over five years to support local small businesses. This year, the city contributed 800 million won, a 133% increase from last year’s 600 million won.

As a result, the Korea Credit Guarantee Fund was able to provide a total of 10.2 billion won in loan guarantee support to small business owners.

Mayor Ahn Byung-gu stated, “We have expanded credit guarantee resources for small business owners compared to last year to provide practical help and stability to those struggling with fund management.” He added, “We will continue to support local small business owners by discovering customized support projects and providing financial assistance.”