Shinbo to Offer Preferential Guarantee Ratios and Fees for 3 Years to New Deal Companies in Jeju Region

[Asia Economy Reporter Song Seung-seop] The Korea Credit Guarantee Fund announced on the 5th that it has signed a 'Special Contribution Agreement Guarantee Business Agreement with the Jeju Free International City Development Center.'

This agreement was prepared to discover and nurture promising New Deal companies in the Jeju area. The plan is to establish an organic support system between the agreement institutions to support the government's Korean New Deal policy and create a foundation for balanced regional development.

The Credit Guarantee Fund will operate the 'Special Contribution Agreement Guarantee' using the special contribution fund from the Jeju Free International City Development Center. For up to three years, it will offer preferential treatment on the guarantee ratio (95%) and guarantee fee rate (0.3% point discount) to facilitate smooth financing for promising New Deal companies in the region and reduce financial cost burdens.

The target for the agreement guarantee support is companies engaged in New Deal fields residing within the Jeju Advanced Science and Technology Complex. The Center plans to select support targets through a public offering starting on the 5th of this month.

A representative of the Credit Guarantee Fund emphasized, "For sustainable growth, balanced regional development through fostering innovative small and medium enterprises by region is important," and added, "We hope this agreement will develop into a good example of win-win cooperation for balanced regional development."