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STATISTICS

Although guarantee & credit insurance industry does not form a distinct business area, various financial institutions including banks, insurance companies, and/or credit unions provide guarantee services as it bears strong similarity to other financial products.

The subject and type of products offered at each institution typically varies depending defined as conventional bank, etc.

In case of Korea, for example, seventy three (73 : public-28, private-45) different insurers are participating in the guarantee & credit insurance market with each assuring different type of market risks.

Guarantee Institutions in Korea (Dec. 2019)

Category Institution
Public Institution (28) Guarantee Fund (20) Korea Credit Guarantee Fund(KODIT), Korea Technology Finance Corporation (KOTEC), Credit Guarantee Fund for Farmers and Fishers (Nongshinbo), regional credit guarantee foundation(16), Korea Federation of Credit Guarantee Foundations (KOREG)
Government affiliated (4) Korea Trade Insurance Corporation (K-Sure), Korea Housing Finance Corporation (HF), Korea Housing & Urban Guarantee Corporation (HUG), Korean Ocean Business Corporation (KOBC)
Bank (3) Korea Development Bank(KDB), Industrial Bank of Korea(IBK), The Export-Import Bank of Korea
Others (1) Korea Housing-Finance Corporation, Mine Reclamation Corporation (MIRECO)
Private Institution (45) Mutual Fund (18) Construction Guarantee, Korea Specialty Contractor Financial Cooperative (KSCFC), Plant & Mechanical Contractors Financial Cooperative of Korea, Engineering Guarantee Insurance (EGI), etc.
Guarantee (1) Seoul Guarantee Insurance (SGI)
Institutions (11) Korea Federation of SMEs (K-BIZ), Korea Association of Realtors (KAR)
Others (15) Banks(14), non-bank financial institute (1)