Gyeonggi-do, 100 Billion KRW Special Guarantee for SMEs in Climate Crisis Industry

Gyeonggi Province is launching a ‘Special Guarantee for Small and Medium Enterprises (SMEs) Responding to the Climate Crisis’ product worth 100 billion KRW to address the climate crisis and realize Gyeonggi RE100.

On the 12th, Gyeonggi Province announced that it recently signed a business agreement with four banks?Shinhan, NongHyup, SC Jeil, and Woori Bank?and will provide a total of 100 billion KRW in support: 50 billion KRW for solar power companies, 30 billion KRW for companies participating in energy efficiency, 10 billion KRW for companies producing alternatives to disposable products, and 10 billion KRW for climate tech companies.

The special guarantee offers up to 500 million KRW for SMEs and up to 100 million KRW for small business owners, with 100% loan guarantee from the Gyeonggi Credit Guarantee Foundation, along with an additional 2.0 percentage points interest reduction per annum.

Poster for Gyeonggi-do Small and Medium Business Climate Crisis Response Special Guarantee Support Project 안내

The support targets SMEs engaged in solar power, energy efficiency, production of alternatives to disposable products, and climate tech businesses. Small business owners and cooperatives can also qualify if they are climate crisis response operators.

Cha Seong-su, Director of the Climate Environment and Energy Bureau of Gyeonggi Province, stated, "This ‘climate finance’ support is designed to help climate companies grow and strengthen their competitiveness to secure new growth engines for Gyeonggi Province," adding, "We ask for much interest so that many companies can participate in responding to the climate crisis without burden."