Chairman Kim Jong-ho of Kibo Engages in On-site Communication with Bio Companies in Honam Region

Honam Region Executes 320 Billion KRW in First Half, Expanding by 100 Billion KRW Compared to Previous Year

The Korea Technology Finance Corporation (Kibo) announced that Chairman Kim Jong-ho visited advanced bio companies in the Honam region on the 9th to listen to the difficulties faced by local companies. Chairman Kim visited Doip (CEO Yoon Sung-wook), located in Suncheon-si, Jeollanam-do, which operates in the red bio industry, one of the future strategic industries with a super-gap advantage. Doip is a small and medium-sized enterprise that manufactures dental implants and veterinary medical parts.

Kim Jong-ho, Chairman of the Korea Technology Finance Corporation (left), is talking with Yoon Sung-wook, CEO of Doif.

Kibo highly evaluated Doip's technological capabilities and growth potential, providing working capital necessary for technology development in the early startup phase in 2020, and supporting facility funds for R&D commercialization and super-gap field scale-up in 2021 and 2022. Chairman Kim said, "Many small and medium-sized venture companies engaged in advanced industries are experiencing difficulties such as deteriorating liquidity due to the triple high complex economic crisis," adding, "Kibo will focus on supporting companies operating in super-gap fields to scale up and leap forward as global top-tier companies in response to the complex crisis."

Kibo plans to support approximately 320 billion KRW in new guarantees in the Honam region in the first half of this year, an increase of about 100 billion KRW compared to 220.8 billion KRW in the first half of last year. To facilitate funding for corporate entities that find it difficult to issue corporate bonds, Kibo plans to support 14 billion KRW in new securitization company guarantees (P-CBO) in the Honam region during the first half of the year. Chairman Kim has been continuing on-site visits starting with companies receiving rehabilitation support this year, including companies using accounts receivable factoring and local bio companies, and plans to actively communicate with companies through regional on-site visits in the future.