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KODIT Implements Special Relief Measures for Flood-Affected Businesses
Finance · Finance/Rental/Leasing · yonhap_finance · 2026-09-02
The Korea Credit Guarantee Fund is temporarily suspending default processing and debt preservation measures for companies hit by recent heavy rainfall.
What Happened
Support Scope: The Korea Credit Guarantee Fund (KODIT) has launched special relief measures for businesses affected by recent heavy rainfall in designated special disaster zones. Eligible companies include those verified by local governments as having suffered disaster-related damages.
Key Provisions: KODIT will defer default processing and debt preservation actions for up to six months for qualified firms. This grace period is intended to provide businesses with the necessary breathing room to focus on operational recovery.
Exclusion Criteria: Companies that have already ceased operations, filed for bankruptcy, or are undergoing rehabilitation processes are excluded from this relief. Furthermore, businesses that have already received formal demands for debt fulfillment are ineligible.
Future Outlook: KODIT plans to extend these special measures to any additional regions declared as special disaster zones through the end of the year. The agency aims to support the normalization of business operations for those struggling in the wake of the disaster.