History - Korea Credit Guarantee Fund Organization

	November Won ‘Presidential Citation for National Quality Awards’ presented by the Ministry of Knowledge Economy September - Introduced ‘Interest Rate Caster’ for SMEs - Introduced ‘Guarantee for Corporate Card’ July Mr. Taik-Soo Ahn was reappointed President & CEO of KODIT June MoU with 『Jamkrindo』 of Indonesia to promote joint development of credit guarantee system and international cooperation April ntroduced the ‘Firm Doctor System’ to provide on-site consulting service to SMEs March Won the 『2012 Grand Prize of New Financial Product』 presented by MK Business News for its new launched ‘Two-in-One Insurance’ January Won the 『Customer Satisfaction Management Awards』 presented by the Korea Economic Daily for three consecutive years
	November Selected 18 SMEs as 『KODIT Star Enterprises』 (Tommorow’s Giant) October MoU with 『DAMU Fund』 of Kazakhstan to promote joint development of credit guarantee system and international collaboration May MoU with 『Vietnam Development Bank』 to promote joint development of credit guarantee system and international collaboration March MoU with 『Kredi Garanti Fonu』 of Turkey to promote joint development of credit guarantee system and international collaboration January KODIT has won the 『Customer Satisfaction Management Awards』 presented by the Korea Economic Daily for two consecutive years
	December MoU with Shinhan Bank and Kookmin Bank to Support SMEs with New Growth Engines Indtroduce "Online Loan Market" Service September Established Kodit Valuation System(KOVAS) MoU between Sejong Industry Co.,Ltd. and KODIT August Certified as the Company with Cooperative Labor and Management Relationship April Won the "Green Growth and Safety Management Awards" March Support Business Startups to solve 4050 Employment Difficulties February Ran the Campaign of "Discovering 10 Startups per Employee" January Won the "Customer Satisfaction and Management Awards 2010"
	December Won the 14th Presidential Commendation for SME Financing November Awarded for Ethics Management from Korea Sustainability Management Conference August Won Eco-Friendly Management Award June Achieved Ievel A at the Assessment on Performance of Korean Public institutions February Implemented 'Guarantee Funded by Special Contribution from Large Enterprises and Banks' Introduced Automatic Rating System (ARS) for prompt guarantee support January Implemented 'Guarantee for Bond Market Stabilization Fund'
	December Implemented 'Guarantee Funded by Special Contributions from Commercial Banks' October Set up a comprehensive countermeasure team to tackle the liquidity shortage in SMEs Implemented 'Guarantee for Bridge Loans of Construction Companies' September Introduced a new cooperative program with banks Certified as [the Best Human Resource Developer] July Inauguration of Mr.Taik-Soo Ahn as the 17th Chairman & CEO Implemented 'Guarantee for Solar Power Facilities' May Introduced guarantees for loans secured by Electronic Bill to provide guarantees to the sellers that get loans by transferring their Electronic Bills issued by buyers to banks. April Launched special guarantee service for purchasing raw materials to support SMEs which suffer from skyrocketing prices of raw materials. February Launched M&A guarantee service to provide guarantees for SMEs which acquire more than 50% of the stock of a mergee.
	December Awarded prize for excellence in management performance by the Ministry of Planning and Budget October Received the Presidential Prize as an exemplary innovative public institution August Joined UN Global Compact June Awarded prize for being a superior institution effectively managing capital funds by the Ministry of Planning and Budget May Introduced Start-up Business Scoring System (SBSS)

2000~2006

	November Received the First Prize as the Best Innovative Public Institution in the Korea Customer Awards. October Declared the Carter of KODIT with the vision to bo one of the best intergrated financial institutions specialized in SME support. June Declared the Now CI to celebrate the 30th anniversary of KODIT.
	October Hosted the 18th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Seoul. February Commenced guarantee combined investment service.
	May Received the top prize 'Presidential Award' in '2004 Annual Congress for Entrepreneurs of Small and Medium-sized Enterprises' administered by the Korean Federation of Small and Medium Business April Won the top prize in '2004 V-ISO Management Systems Grand Awards" administered by the Korean Management Association.
	December Commenced guarantee combined investment service. November Received the Minister's Prize in the Korea E-Business Awards sponsored by the Ministry of Commerce, Industry and Energy. July Implemented 'wage peak system' for the first time in Korea, a work sharing system guaranteeing job security until retirement in return for a gradual decrease of salaries. June Acquired ISO 9001 Certificate in Overseas Credit Information Business.
	September New management policy of "We Partner" was introduced to maximize customer satisfaction. June Received the Presidential Prize in the National Productivity Award. April Converted special guarantees into general credit guarantees excluding P-CBO / CLO guarantees. March Won the bid for the e-commerce category of the 'B2B Network Implementation Support Project' by the Ministry of Commerce, Industry and Energy.
	September Launched e-commerce credit guarantee services to facilitate online business transactions of SMEs. June The 'Corporate Credit Rating System (CCRS)' was developed to enhance the credibility and objectivity of decision-making for guarantees.
	September The Korea Credit Guarantee Fund Act was amended (6th Amendment). The time period of contributions from financial institutions was abolished. June Introduced special guarantees for Collateralized Bond Obligations (CBO) and Collateralized Loan Obligations (CLO) to help medium and large enterprises issue corporate bonds.

1990~1999

	July The 'Special Guarantee Services for Micro Start-up Business' was introduced to support all types of start-up businesses. January Took over the administrative right of the Housing Finance Credit Guarantee Fund from the Housing & Commercial Bank. Became the sole management institution of the Korea Infrastructure Credit Guarantee Fund.
	December Adopted a partial guarantee system under which the credit risks are shared with creditor institutions and KODIT. January Introduced special credit guarantees to assist SMEs hit by the Asian financial crisis.
	September Commenced bill insurance services based on the Special Measures for Supporting Small Enterprises.
	December The Korea Credit Guarantee Fund Act was amended (5th Amendment): The competent authority supervising governmental contributions was changed from the Ministry of Finance and Economy to the Small and Medium Business Administration. August Launched re-guarantee services for local credit guarantee foundations.
	December The Korea Credit Guarantee Fund Act was amended (4th Amendment): The restrictions on eligibility according to industry sector were abolished. The ceiling on the total outstanding credit guarantees was amended from 15 times to 20 times the total capital funds. Legal ground for re-guarantee services to local credit guarantee foundations was established. The time period of contributions from financial institutions was extended to the end of 2000.
	December The Korea Credit Guarantee Fund Act was amended (3rd Amendment): The time period of contributions from financial institutions was extended to the end of 1995. Legal ground for the recovery of payment was strengthened.

	April The Korea Technology Credit Guarantee Fund was established. The rate of contributions from financial institutions was amended to 0.2% per annum of the loans made by those institutions.
	August KODIT was temporarily adopted as an agent institution of the Korea Technology Credit Guarantee Fund in accordance with the 'New Technology Financing Support Law'.
	April The Korea Credit Guarantee Fund Act was amended. The period of contributions from financial institutions was extended to the end of 1990.

	December The Korea Credit Guarantee Fund Act was amended. The rate of contributions from financial institutions was reduced from 0.5% to 0.3% per annum and the period of contributions was extended to the end of 1985.
	June Korea Credit Guarantee Fund was established as a special legal entity.
	December The Credit Guarantee Fund Act was promulgated. The functions of KODIT were temporarily carried out by the Industrial Bank of Korea, which served as a proxy before KODIT was established.

	March "The Small and Medium Industry Credit Guarantee Act" was created.
	November The Credit Guarantee Reserve Fund System was founded in accordance with 'The Presidential Decree for the Industrial Bank of Korea.'