Warm financial Service
to Become an Example of Public Value
The foundational goal of KFCC is to assist and supervise the management of CC and to promote transparent operation for its sound development.
KFCC is the central bank of CC that pursues common interests with nationwide CCs through democratic and rational decision making. KFCC plays the role of establishing and implementing plans for the development strategy to achieve continuous growth.
KFCC operates the Head Quarter and 13 nationwide local HQs, and realizes a community of happiness and hope through its financial network based on open management that emphasizes field-based responsible management, the specialization of human resources, and performance-oriented reforms.
Major Works of KFCC
& SupervisionManagement Support, Supervision & Inspection of CC
BusinessControl the operational fund of CC(Role as a central bank)
BusinessInsurance Business for Credit Cooperatives & Members
Depositor Protection Reserve ManagementProtect depositors to secure payment for deposits & installment savings
& ResearchDomestic & Overseas Surveys for Long Term Development of CC and KFCC
International Cooperation ProjectsCooperation projects for local development with international organizations and foreign countries and promotion of friendship and reinforcement of cooperation with the international cooperative alliances
& PromotionEducation & Training for Employees of CC and KFCC and Public Relations
Subsidiary Companies of KFCC
Subsidiaries of KFCC include the welfare corporation named ‘Community Credit Cooperatives Welfare Association (Foundation)’, the MG Assets Management’ that carries out the general management of large-scale facilities and the dispatching of laborers, and the credit information company named ‘MG Credit Information’.
CC Welfare Association (Foundation) (hereinafter, ‘The Welfare Association’), was established to ensurestable life and enhanced welfare of employees who engage in CC and KFCC, by approval from the Minister of Internal Affairs on June 2, 1963 in accordance with the Article 84 of Community Credit Cooperatives Law governing ‘Workplace Mutual Aid Associations’ under the tax law.
As of December 31, 2019, the Welfare Association has grown to 907.4 billion won of assets and has been striving relentlessly to ensure a stable life and enhanced welfare for employees after their retirement through various initiatives such as a retirement mutual aid (lump sum payment, pension to installment payment) project, a fund lending project, a funeral & congratulatory support, a member welfare project, a supplies distribution project, and a MG Marketplace operation.
MG Asset Management was established on November 23, 2010 in order to manage the maintenance of general buildings, the dispatching of laborers, and the affiliated store business.
MG Asset Management is located in MG IT Center, and has grown into a mid size enterprise with total asset 9.1 billion won and 550 employees as of December 31, 2019.
The business area of MG Asset Management is largely categorized into PM (Property Management: Real Estate Asset Management), FM (Facility Management: Real Estate Facility Management), SI/SM (IT Development, Maintenance and Repair), Laborer Dispatching, and Franchise Business.
Entering the new millennium in 2000, KFCC established MG Credit Information Service in order for the standardization and systematization of debenture management in CC and the efficient management of bad credit. MG Credit Information Service has grown into the scale of 66 billion won of assets and 1,470 employees as of December 31, 2019 and has carried out standardization and systemization of bad credit management in CC. The business area of MG Credit Information is largely categorized into five areas of AMC (Asset Management Company), CRM (Customer Relation Management), ARM (Account Receivable Management), Credit Collection and Work Consignment.