Gyeonggi Province Establishes Permanent Gyeonggi Credit Guarantee Foundation Branches in Four Northeastern Cities and Counties for Balanced Regional Development

[Suwon Ilbo=Park No-hun] Gyeonggi Province announced on the 18th that it has decided to expand and operate mobile counseling offices of the Gyeonggi Credit Guarantee Foundation (hereafter Gyeonggi Credit Guarantee) in four cities and counties including Dongducheon into 'permanent branches' to improve financial infrastructure in the northeastern region.

Gyeonggi Credit Guarantee is the province's only policy financial institution providing practical financial support to small and medium-sized enterprises and small business owners within the province who lack collateral and face difficulties in securing funds from financial institutions, despite having business viability and technical capabilities.

Currently, the foundation operates 'branches' in 25 of the province's 31 cities and counties, and also provides consultation and guarantee application services through online channels (PC and mobile).

This expansion of permanent branch operations aims to lay a foundation for regional balanced development by eliminating financial blind spots and to support swift economic recovery in areas hit by COVID-19 through timely capital injection.

The targeted areas are four northeastern cities and counties—Yangpyeong County, Dongducheon City, Gapyeong County, and Yeoncheon County—among six cities and counties that currently do not have Gyeonggi Credit Guarantee branches.

Target areas were selected through comprehensive consideration of population size, aging demographics, accessibility, and regional characteristics.

These municipalities have so far operated 'mobile counseling offices' in place of branches to provide financial consultation, but the reality was that with only one staff member working 2 to 6 hours twice a week, it was difficult for residents to receive services in a timely manner.

Moreover, given the characteristics of these areas as urban-rural composite cities with large elderly populations who have difficulty using mobile devices or computers (PCs), face-to-face consultation was more necessary than online consultation methods.

This expansion to 'permanent branches' is characterized by operating five days a week (Monday to Friday) and seven hours daily (9 a.m. to 4 p.m.), the same as regular branches, unlike the previously limited-operation mobile counseling offices, and providing guarantee services including financial consultation.

The province plans to begin operating permanent branches starting from areas that have completed preparations through procedures including stationing permanent staff and setting up office facilities, with all four cities and counties expected to transition to permanent branches by the first half of this year.

Kim Sang-su, Director of the Regional Finance Division, said, "We have decided to operate Gyeonggi Credit Guarantee branches on a permanent basis to swiftly address residents' financial difficulties in line with the rapid changes in economic and social environments due to COVID-19," adding, "We expect that the operation of permanent branches will contribute to Gyeonggi Province's balanced development and enhanced convenience in financial support for residents."