Techfin Ratings, a fintech-focused affiliate of Douzone Bizon, said on Monday it signed a memorandum of understanding with the Korea Association of Management Innovation Small and Medium Business, known as the MainBiz Association, to ease the cost burden of corporate credit ratings and enhance competitiveness.

The agreement focuses on combining the two sides’ infrastructure and capabilities to provide management support benefits to MainBiz members and to build a data-based corporate credit rating and supply chain finance ecosystem.

They plan to build a close cooperation framework across multiple areas, including identifying and expanding joint projects through mutual exchanges and cooperation, running a dedicated landing page and support channel for MainBiz members, implementing preferential fee policies for corporate credit rating grade confirmation certificates for members, and providing service guidance and joint promotions for member companies.

Ok Hyung-seok (옥형석), CEO of Techfin Ratings, said the agreement would serve as an opportunity to introduce Techfin Ratings’ credit rating and financial support services to MainBiz member companies seeking management innovation. He said the company would continue close cooperation to improve financing access for small and medium-sized companies and lead an effective support ecosystem.