Suh Jae-kyung

By Yi Whan-woo

Suh Jae-kyung, a former vice president of Daewoo Securities, has been named president of the Seoul Credit Guarantee Foundation.

The Seoul Metropolitan Government said Suh, 64, will head the institute that provides debt guarantees to small companies over the next three years.

In the past Suh worked as a director at The Hankook Ilbo, a sister paper of The Korea Times. After working as vice president of Daewoo Securities, he served as an auditor at the Korea Economic Research Institute. He was also a guest researcher for the Korean studies center at Harvard University.

“I’ll do all in my power to support small businesses with stronger financing and the help the underprivileged with the appropriate use of tax money,” he said.

The Seoul Credit Guarantee was established in 1999 to provide systematic support for small businesses in the city. The institute represents business owners with low credit ratings and runs consulting programs for new business ideas as well as funding entrepreneurs with capital.