Saemaul Geumgo's subsidiary MG Credit Information is making a significant entry into the public institution purchase agreement business. It has established a dedicated subsidiary, the first of its kind in the credit information industry, to expand its non-performing loan (NPL) operations.
On July 13, MG Credit Information announced the completion of its wholly owned subsidiary, 'MG ASSET.'
MG ASSET will acquire non-performing loans related to development projects and convert them into public institution purchase agreements. The company expects this initiative to support the early recovery of non-performing loans while contributing to the expansion of public rental housing supply by the Korea Land and Housing Corporation (LH).
MG Credit Information has already laid the groundwork for this business. In January, it signed a memorandum of understanding (MOU) with Daishin Asset Trust, followed by agreements with Shin Young Real Estate Trust and Korea Investment Real Estate Trust to promote the LH purchase agreement business. The company has also established a collaborative framework with financial firms such as Bukook Securities, Leading Investment Securities, and M Plus Asset Management.
With the establishment of this subsidiary, MG Credit Information plans to intensify its new business centered on non-performing loans and diversify its business portfolio. A company representative stated, 'With the establishment of MG ASSET, we plan to actively pursue new projects focused on non-performing loans and secure new growth engines through continuous business expansion.'
* This article has been translated by AI.
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