Gumi City and Industrial Bank Sign MOU for Defense Semiconductor New Growth Engine Fund

Up to KRW 12 Billion with Maximum 3.9% Interest Support

Up to KRW 500 Million per Company Considering Sales Revenue

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gumi City, Gyeongbuk Province (Mayor Kim Jang-ho) and IBK Industrial Bank signed a business agreement on the 13th to support local economic revitalization and corporate financing in new growth industries with a fund of 12 billion KRW called the ‘New Growth Engine Fund’.

This agreement was promoted to expand support for new growth industries such as defense, semiconductors, AI, robotics, space, and aviation, and to provide funding and foster related small and medium-sized enterprises.

Kim Jang-ho, Mayor of Gumi (fourth from the left), and Kim Guk-chan, Head of IBK Industrial Bank, signed an MOU for the New Growth Engine Fund Support Project on the 13th.

The ‘New Growth Engine Fund’ is a support fund for new growth industries aligned with the 8th elected administration’s efforts to attract advanced semiconductor materials, parts, and design specialized complexes and defense innovation clusters.

Through this agreement, companies can receive interest rate support of up to 3.9% (Gumi City 2.5%, IBK Industrial Bank up to 1.4%) depending on the credit rating of each company when loans are executed.

The support targets companies in new growth fields such as defense and semiconductors located in Gumi, and in the case of semiconductor companies, those that have submitted a letter of intent to the ‘Semiconductor Specialized Complex Council’.

Additionally, in the new industry sector, companies aiming to enter new growth fields through technology transfer from universities or research institutes or through their own proprietary technology are also eligible. Companies recommended by related councils or those with contracts and delivery records with defense industry companies or related enterprises are eligible.

Mayor Kim Jang-ho said, “With the launch of specialized funds for new growth industries, we will promote various efforts to create an ecosystem in these industrial sectors. We expect this to contribute to stabilizing management and strengthening competitiveness by improving the financial conditions of small and medium-sized enterprises struggling in the high-interest rate era.”

Head Kim Guk-chan said, “We hope that the SME co-growth loan support project conducted through ESG management will help revitalize new growth industry companies in Gumi City.”