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| Home > KOREG Members (CGFs) > Objectives and Major Functions |
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Credit guarantee unions have been established in each city and province since 1996 to extend credit guarantees for micro enterprises lacking substantial collateral.
The Unions were established in accordance with the provision of Article 32 of the Civil Law.
To strengthen credit support for micro enterprises, the Regional Credit Guarantee Foundation Act, a special law, was enacted in September 1999 and the Unions changed their name from "Credit guarantee union" to "Credit guarantee foundation(CGF)" in March 2000. |
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Through these services, promising micro enterprises can obtain financing from various types of financial institutions without tangible collateral. |
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CGF provides management consulting services to micro enterprises to enhance their management skills and productivity. |
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