Enter 2022-04-27 16:19:47 Modified 2022.04.27 16:19:47 Reporter Kim Ji-young
Kwon Nam-joo (fourth left), president of KAMCO, listens to difficulties in the rental program after purchasing assets at Jungwoo E&E headquarters in Busan, Seoul on the 27th. Photo courtesy of Camco
Kwon Nam-joo (left), president of KAMCO, is listening to difficulties in the rental program after purchasing assets at Jungwoo E&E headquarters in Busan, Seoul on the 27th. Photo courtesy of Camco
Kwon Nam-joo, president of Korea Asset Management Corporation (KAMCO), visited Jungwoo E&E Co., Ltd., which received support from "Sale & Lease Back" and strengthened its on-site management, the Korea Asset Management Corporation said on the 27th. President Kwon held an on-site meeting with officials on the same day and directly heard about the difficulties of small and medium-sized companies, whether they were blind spots in the support system, and the need for additional support. Jungwoo E&E Co., Ltd. is a small and medium-sized company with key technologies related to the design and production of vacuum heat pipes used in LNG fuel propulsion ships. As it had difficulty raising operating funds for research and development and production of new products, it used rental programs after purchasing assets in 2020. KAMCO provided operating funds and improved its financial structure on the condition that the company repurchases the factory.
KAMCO President Kwon Nam-joo said, "We will strengthen the role of rental programs after purchasing assets, focusing on the opinions shared at this meeting," adding, "We will continue to find answers in the field to provide practical help to small and medium-sized companies."
After purchasing assets, the rental program is a support program that KAMCO provides liquidity by recharging assets such as factories and offices of companies that are temporarily experiencing liquidity crises. An entity can continue its business activities by continuing to use the assets sold after improving its financial structure through debt repayment with the proceeds from the sale. After normalization, the factory and office building that were sold by exercising the right to buy first can be repurchased.
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