YOGYAKARTA – Perum Jamkrindo welcomed a delegation from the Korea Credit Guarantee Fund (KODIT) during the 4th Working Level Council (WLC) meeting in Yogyakarta, held from December 11-14, 2018. One of the key topics discussed was enhancing credit guarantees for startup businesses in both countries and addressing Industry 4.0.
The event was attended by Amin Masúdi, Director of Business Guarantee, and Jong-In Kim, Director General of the Credit Insurance Department, who led the KODIT delegation. Other attendees included Joo-Young Bang, Director of Auditing & Examination Office, Yong-Ki Ahn, Deputy Director of Credit Insurance Department, Sun-Young Hong, Deputy Director of Public Relations Office, Kuk-Hyoun Kang, Assistant Manager of 4.0 Business Start-up Department, Tae-Hee Kim, Assistant Manager of Risk Management Office, and Seubg-Geun Kang, Assistant Manager of Customer Support Department.
From Perum Jamkrindo, attendees included Abdul Bari, Corporate Secretary, Erna Zubaida, Head of MSDM Division, and Wakhyu Hidayatulloh, Head of Regional Office V Semarang, as well as Akhmad Albasithu, Head of Yogyakarta Branch.
This was the fourth meeting held since the signing of the Memorandum of Understanding (MoU) between Perum Jamkrindo and KODIT in 2015. KODIT serves as one of Asia’s representatives in the World Bank’s credit guarantee sector.
Amin Masúdi explained that the WLC program serves as an exchange of information, knowledge, and experience regarding credit guarantee systems and operations in both Korea and Indonesia. "Through the WLC program, the cooperation between Jamkrindo and KODIT continues to strengthen," said Amin.
He further added that this initiative also aims to support the national economy by guaranteeing feasible yet non-bankable domestic SMEs. "Perum Jamkrindo hopes this collaboration will help develop the guarantee industry not only in Asia but globally," he added.
Jong-In Kim, Director General of the Credit Insurance Department, stated that the cooperation between Perum Jamkrindo and KODIT has developed an understanding of Mutual Guarantee Schemes over the past three years. "Both parties have worked towards advancing the small and medium-sized industries in their respective countries," he said.
Through this partnership, he believes both organizations can significantly contribute to building trust and friendship, as well as strengthening international cooperation between the two entities.
Previously, Perum Jamkrindo also collaborated with KODIT on the corporate credit ratings system. KODIT has an online system with advanced information technology that enables quick analysis to decide whether a credit guarantee for an SME should be approved.
A common challenge for startups is capital, with only about 30% of startups in Korea managing to survive. This presents an opportunity for guarantee companies to help startups obtain the necessary funding to grow their businesses. KODIT has provided credit guarantees up to Rp 450 billion for startups.
KODIT has played an essential role in growing startups in Korea, not only by bridging financing with banks but also providing mentorship to these businesses. Similarly, Perum Jamkrindo assists startups through its SME Credit Rating Division.
Perum Jamkrindo is committed to fostering young entrepreneurs and supporting the growth of startup companies. This aligns with Jamkrindo’s goal of contributing to national economic development. (HUMAS)