Credit guarantee institutions of Korea and Turkey seek to take their credit guarantee systems to another high.
Korea Credit Guarantee Fund (KODIT, Chairman and CEO Ahn Taik-soo) and its Turkish counterpart Kredi Garanti Fonu (KGF) exchanged a memorandum of understanding on furthering their credit guarantee systems and closer bilateral cooperation.
According to the deal, the Fund will instruct KGF about Korea’s credit guarantee system and the two institutions will exchange information on their guarantee systems and business activities of SMEs by holding bilateral working-level consultations on a regular basis.
The MOU signing, initially requested by KGF, represents the second of its kind for KODIT to have with a European credit guarantee institution following the first one with Italy’s EUROFIDI, the largest credit guarantee company in the region.
So far, KODIT has been exporting Korea’s credit guarantee system to countries such as Vietnam, Cambodia, Uzbekistan, and Kazakhstan and seeking to make it a globally-recognized system through broader exchanges with credit guarantee institutions throughout the world.
“The MOU signing will allow both countries to obtain information on each other’s business activities of small and medium enterprises (SMEs), which will help Korean SMEs increase their exports,” said a source from the Fund.
In the meantime, KODIT announced on April 11, it would expand its customer satisfaction (CS) programs to provide free CS education to SMEs which have been excluded from the education so far.
“CS Clinic,” as is called by the Fund, was developed by KODIT in 2004 to reinforce its management practice which emphasized customer satisfaction. Under the program, KODIT’s internal service lectures visit the Fund’s operating sites and give tailored education sessions taking customers complaints and the characteristics of each site into account.
The Fund also operates a program for SMEs. Its internal CS professionals provide SMEs with consulting services customized to their distinctive needs through a variety of means. For instance, the lecturers record the SME’s customer contact points into videos, and monitor how the employees answer the phone to find out the areas for improvements.
Moreover, KODIT runs “CS School” to nurture service instructors to work for SMEs in a bid to enhance their level of customer service in a practical manner.
All SMEs using the Fund are eligible for the CS programs. Manufacturing companies over a certain size and retail-wholesale businesses with customer contact points such as sales centers and service centers shall be given a priority.
“KODIT will strive to promote customer service-oriented mindset among the SME employees and enhance their competitive edge by operating the CS programs in a way reflecting the characteristics of each SME,” said Kim Gwang-seo, chief of Customer Satisfaction Support Department at KODIT.