KAMCO Launches Second Financial Stability Support Fund for Regional Banks

The Korea Asset Management Corporation (KAMCO) has launched the 'Financial Stability Support Fund No. 2 for Regional Banks' with five regional banks, totaling 410 billion won. This fund was established to support lending to local SMEs and households by resolving the non-performing loans of regional banks, and Aegis Asset Management will manage its operations.

According to KAMCO, it has created non-performing loan funds totaling 3.6 trillion won across 15 institutions from 2017 to the present, contributing to the recovery of financial institutions' financial stability.

Jeong Jeong-hoon, President of KAMCO, stated, "We have supported improvements in asset quality by introducing diversified methods for resolving non-performing loans tailored to the needs of financial institutions," adding, "We will further strengthen our public role to help regional banks contribute to the virtuous cycle of the local economy as a key financial base."