Kibo Actively Supports Regional Balanced New Deal with Gyeongsangnam-do, NongHyup Bank, and Gyeongnam Bank

Public-Private Joint Agreement for Fostering Regional Key Industries

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 12th that it signed a 'Gyeongnam-type Regional Balanced New Deal Industry Promotion Financial Support Business Agreement' with Gyeongsangnam-do, NongHyup Bank, and Gyeongnam Bank.

This agreement was prepared to establish a comprehensive support system for regional balanced development linked by local governments, public institutions, and regional financial institutions. Kibo, NongHyup Bank, and Gyeongnam Bank will establish a financial support foundation for companies operating Gyeongnam-type New Deal industries based on the agreement guarantee, and Gyeongsangnam-do plans to support the innovative growth of local technology SMEs through the secondary interest subsidy project for Gyeongnam-type New Deal companies.

Based on a special contribution fund of 500 million KRW from NongHyup Bank and Gyeongnam Bank, Kibo will provide preferential guarantees totaling 10 billion KRW with a maximum limit of 1 billion KRW per company to companies allocated special funds related to the regional balanced New Deal in Gyeongsangnam-do, through preferential measures such as ▲increasing the guarantee ratio (85%→100%) and ▲reducing the guarantee fee (0.2%p↓). Gyeongsangnam-do will support a secondary interest subsidy of up to 2.0 percentage points within 3 years through special funds, and NongHyup Bank and Gyeongnam Bank will offer a maximum interest rate preferential treatment of 1.0 percentage point.

Chairman Jung Yoon-mo of Kibo said, "Through this agreement, we expect to lead rapid funding support and innovative growth for regional balanced New Deal companies and contribute to the success of the Gyeongnam-type three major New Deal projects of smart, green, and social New Deal," adding, "Kibo will continue to actively support the success of regional balanced New Deal projects and the innovative growth of local technology SMEs through agreements with more local governments."