Support of Preferential Guarantees Worth a Total of 200 Billion KRW for Exporting SMEs
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 8th that it has signed a 'With-Loan Export Finance Business Agreement for Technology Finance Support for Export SMEs' with Hana Bank to support the innovative growth of export SMEs.
Through this business agreement, the two organizations plan to actively support the strengthening of competitiveness, job creation, and innovative growth of export SMEs by establishing a customized collaboration system for export SMEs and alleviating the financial cost burden.
To this end, Hana Bank will pay Kibo a guarantee fee support fund of 1 billion KRW to provide a 0.5 percentage point guarantee fee support for the first year to the target companies, and Kibo will reduce the guarantee fee by 0.2 percentage points annually for three years.
The eligible companies include ▲companies with export customs clearance records in the Export-Import Statistics Information System ▲companies holding overseas direct export contracts (letters of credit) ▲companies eligible for financial support guarantee agreements for overseas expansion ▲export SMEs recommended by Hana Bank, and Kibo plans to support preferential guarantees totaling 200 billion KRW through the agreement guarantee.
Kim Young-chun, director of Kibo, said, "Through collaboration with Hana Bank, Kibo will support job creation and innovative growth of export SMEs and fulfill its role as a financial support platform that proactively responds to government priority issues such as support for companies affected by COVID-19."
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