San-eun, Data Collateral Loan Surpasses 100 Billion Won in Just One Year Since Launch

[Asia Economy Reporter Kim Jin-ho] The Korea Development Bank announced on the 17th that its "Data-Based Innovation Enterprise Special Fund" to support data-driven industries has surpassed 100 billion KRW within one year of its launch.

Data business requires significant initial investment costs for data collection and management, and it takes a long time to commercialize, necessitating funding to resolve the imbalance in capital supply. However, domestic financial institutions have not moved away from conservative lending practices focused on tangible asset collateral, making it difficult for data innovation companies to secure funding.

In response, KDB has actively promoted the nurturing of data innovation companies by launching the "Data-Based Innovation Enterprise Special Fund," which uses data assets as collateral.

First, considering the contribution to value-added creation, KDB developed its own data valuation model to objectively assess the value of data assets. By linking the calculated data value to the loan limit, opportunities for funding support have been expanded to innovative companies that were difficult to support under traditional loan limit calculation methods.

Furthermore, for companies with favorable valuation results, KDB applies a "New Industry Review System" that focuses on technology and growth potential, enabling smooth and swift review even if collateral and financial performance are insufficient.

Starting with a 5 billion KRW support to Korea Credit Data (Cash Note Commercial Area Analysis) in December last year, the cumulative loan amount exceeded 100 billion KRW within one year of launch. Supported companies have expanded from tech startups such as Oneul Siktak (same-day delivery) and DS Solutions (prepayment service) to national representative unicorn companies like Socar (car sharing) and Zigbang (real estate rental platform).

A KDB official stated, "As a policy financial institution, we are focusing on fostering new growth and innovative companies that will lead the next generation," adding, "We plan to continue launching customized financial products considering the characteristics of each industry and take the lead in financial support for innovative growth and the Fourth Industrial Revolution."