The main functions of KDIC are insurance management, risk surveillance, resolution, recovery, and investigation.

The Act lays out how to enhance the objectivity, fairness and transparency of fund raising and management.

Financial assistance includes loan extension and fund deposit, purchase of assets and assumption of liabilities, equity investment and contributions.

(Figures as of June 2009) The coverage limit is KRW 50 million, which is almost USD 45,000, including the principal and interest.

Also, the KDIC has the authority to file a liability suit or a damage claim on behalf of insolvent financial institutions.

The KDIC pursues liability claims against former/incumbent employees of insolvent financial institutions for their role in the failure.

of default debtor corporations who failed to pay back the money they owed and thus are partially responsible for the insolvency.

In addition, the KDIC conducts thorough investigations of concealed properties of insolvency-implicated parties to secure the assets for damage claims against them.

The premium rates are determined on the basis of the average annual balance of deposits in each sector.

The KDIC currently has MOUs on Information Sharing and Mutual Cooperation with nine deposit insurers worldwide.

Headquartered in Seoul, SGIC is the largest provider of surety and trade credit insurance.