Korea Credit Service (KCS), a credit rating agency specializing in individual business owners, announced on the 13th that it has secured a total of KRW 2 billion (approximately USD 1.5 million) in investments, including KRW 1 billion (approximately USD 750,000) from Hana Bank and KRW 1 billion from its parent company, Korea Credit Data (KCD).

Following an investment from KB Kookmin Bank in January 2022, this latest funding marks KCS’s second investment from one of South Korea’s top four financial holding companies. Hana Bank plans to collaborate with KCS on expanding loans for small business owners and providing pre-diagnosis services for policy funds, among other financial initiatives.

With this investment, KCS has now received funding from six banking institutions, with cumulative investments exceeding KRW 22.2 billion (approximately USD 16.7 million). This reflects the growing recognition of KCS’s business evaluation models and data capabilities in the small business sector. Investors in KCS include KCD, KakaoBank, iM Bank, Seoul Guarantee Insurance Company, IBK Industrial Bank, KB Kookmin Bank, Hyundai Capital, Jeonbuk Bank, and Welcome Savings Bank.

KCS provides credit evaluation data for small business owners and individual entrepreneurs through its service, Credit Note. It also offers a fast credit rating confirmation service, issuing credit rating certificates in just three minutes using an automated evaluation system. The instant credit rating inquiry service allows users to check their credit ratings before purchasing reports, while the unlimited issuance product updates ratings monthly for up to two years. Since its launch six months ago, the service has grown approximately 30 times, rapidly expanding its market share. As of December 2024, KCS’s services are used by approximately 160,000 businesses.

KCS also collaborates with public institutions such as the Small Enterprise and Market Service and the Seoul Credit Guarantee Foundation to provide policy fund and guarantee diagnosis services for small business owners. The company plans to launch a connected business information service this year, integrating credit evaluation data using past entrepreneurial history and analyzing multiple business locations owned by individual entrepreneurs.

Byung-woo Jeon, Head of Corporate Business at Hana Bank, stated, “As a member of Hana Financial Group, which values the ‘Hana Culture,’ we believe KCS is an ideal partner to realize the value of togetherness, especially as it aligns with KCD’s community-focused values centered on small business owners. Hana Bank plans to create new synergies with KCS in various financial areas, including expanding loans for small businesses and providing pre-diagnosis services for policy funds, and extend this collaboration across the entire group.”

Sang-woo Kim, CEO of KCS, said, “As a dedicated credit bureau for individual business owners, KCS has been recognized for its innovative achievements and sustainable growth potential, allowing us to welcome Hana Bank as a new partner. KCS is the only full-time credit bureau for individual business owners in Korea. Together with our competitive shareholders, we will connect the potential of individual business owners to credit, creating more financial opportunities and delivering greater value to our customers.”