Credit Insurance Procedure

KODIT has two kinds of credit insurance services : Bill Insurance Service and Receivables Insurance Service. KODIT introduced Bill Insurance Services in September 1997 and Receivables Insurance Services in March 2004 to protect SMEs from chain reaction bankruptcies arising from dishonored commercial bills or non-payment of receivables for the goods and services that SMEs provided to buyers.
In 2018, KODIT underwrote a record KRW 20,161 billion in Credit Insurance Services.