Chungnam Credit Guarantee Foundation Surpasses ₩3 Trillion in Outstanding Guarantees
The Chungnam Credit Guarantee Foundation (Chungnam Shinbo) announced on March 20, 2026, that its outstanding guarantee balance exceeded ₩3 trillion (approximately $2.2 billion USD).1 This milestone represents significant growth, occurring roughly six years after the foundation reached ₩2 trillion in outstanding guarantees in June 2020, during the COVID-19 pandemic.1
Supporting SMEs and Tiny Businesses
Chungnam Shinbo was established in 1998 following the Asian financial crisis and has consistently provided financial support to small and medium-sized enterprises (SMEs) and small business owners throughout economic challenges, including the 2008 global financial crisis, the 2015 MERS outbreak, and the 2020 COVID-19 pandemic.1 The foundation has focused on easing financial burdens and bolstering the self-sufficiency of businesses facing high interest rates and inflation.1
Provincial Government Support
A key driver of this achievement has been the expansion of the Chungnam provincial government’s low-interest loan program for small business owners. Over the four years of the 8th popularly elected provincial administration (2022–2026), this program grew to a total of ₩2.2 trillion.1 This expansion has increased access to policy financing for SMEs and small business owners in the province.1
Sound Risk Management
Alongside quantitative growth, Chungnam Shinbo has maintained sound risk management practices. Despite reaching ₩3 trillion in guaranteed balance, the foundation’s operating multiple was managed stably at 8 times, which is half of the legal maximum operating multiple of 15 times.1 The foundation also reported securing contributions of ₩74.6 billion last year, increasing its basic assets to ₩368.9 billion.1
2026 Expansion Plans
Looking ahead to 2026, Chungnam Shinbo plans to supply guarantees worth ₩1.33 trillion, a ₩380 billion increase compared to the previous year.2 This includes ₩380 billion allocated for refinancing guarantees to support multiple debtors and businesses facing closure.2 The foundation will also establish a rapid guarantee system based on a digital dedicated organization and expand on-site consultations through the U-Financial Bus.2
Commitment to the Chungnam Economy
“The guaranteed balance of ₩3 trillion is the result of collaboration between Chungcheongnam-do, financial institutions, and small business owners and small and medium-sized businesses who did their best in the field,” said Chairman Cho So-haeng.1 He added that Chungnam Shinbo will continue to strengthen its role in financial support to help local companies overcome difficulties and grow.1
- Chungnam Credit Guarantee Foundation’s Outstanding Guarantees Surpass 3 Trillion Won, Sedaily, March 23, 2026.
- Chungnam Credit Guarantee Foundation to Provide Record 1.33 Trillion Won in Guarantees This Year, Asiae, January 27, 2026.
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