On the 23rd, the Korea Technology Finance Corporation (KOTEC) announced that it will establish its own risk management philosophy, 'RISKARE,' to enhance the efficiency of support for small and medium-sized enterprises and strengthen management safety, and it will actively promote a roadmap for risk management focused on small and medium enterprises.
'RISKARE' is a risk management philosophy that recognizes risk not merely as something to avoid or suppress but as a companion entity that should be managed and developed together, similar to the human growth process. Accordingly, KOTEC plans to apply the PDCA (Plan Do Check Act) cycle principle throughout the entire risk management process to systematically feedback results and enhance risk-based policy projects.
KOTEC plans to gradually establish a risk management system according to the roadmap, starting with the development of a risk assessment model and an early warning model this month, aiming for completion by 2027. Ultimately, it aims to establish a next-generation risk management system that integrates risk prediction, warning, analysis, and response functions. In particular, it plans to significantly enhance discernibility, stability, and crisis response capabilities by introducing a prediction model for insolvency that fully reflects machine learning algorithms.