Policy and Private Financial Institutions Join Hands to Foster New Deal Companies

Kibo Signs Business Agreement with KB Kookmin Bank to Support Korean New Deal Initiative

On the 19th, Jeong Yun-mo, Chairman of the Korea Technology Finance Corporation (left), and Heo In, President of KB Kookmin Bank, are taking a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 21st that it has signed a business agreement with KB Kookmin Bank (President Hur In, hereinafter referred to as Kookmin Bank) to support the Korean New Deal. This business agreement was established to build a collaborative system between policy financial institutions and private financial institutions to foster innovative growth companies that can support the Korean New Deal policy.

According to the business agreement, Kibo will create a special guarantee for Korean New Deal companies, providing preferential support to innovative growth companies in each New Deal sector by increasing the guarantee ratio and reducing guarantee fees. It will also provide linked support for investments to strengthen technological competitiveness and technology transfers.

KB Kookmin Bank will make a special contribution of 10 billion KRW to Kibo to facilitate smooth loan support for Korean New Deal companies, offering specialized services such as interest rate reductions, guarantee fee support, and consulting in tax and finance fields. Additionally, it will provide linked support for investments and initial public offerings (IPOs) using the Korean New Deal funds of KB Investment and KB Securities, and offer opportunities to participate in job fairs hosted by KB Good Job to recruit outstanding talent.

Recently, Kibo has been focusing its capabilities on responding to the Korean New Deal by supporting the digitalization of small and venture companies based on advanced technology evaluation infrastructure, developing carbon value evaluation models, and implementing green guarantees for greenhouse gas reduction companies. With the signing of this business agreement, financial support for innovative companies is expected to become smoother, accelerating the fostering of promising companies in each New Deal sector.

Chairman Jung Yoon-mo of Kibo said, "We expect to establish a model of exemplary cooperation that organically combines Kibo's capability to discover excellent technology companies with KB Financial Group's corporate finance infrastructure to support the scale-up of promising innovative companies," adding, "Kibo will continue to actively implement various financial and non-financial support measures for the success of the Korean New Deal."