Shinhan Bank Signs Business Agreement with Korea Creative Content Agency to Promote Financial Support Activation

10 Billion KRW Investment and Guarantee Fee Support for SMEs in the Cultural Content Sector

Shinhan Bank announced on the 16th that it has signed a "Business Agreement to Activate Financial Support for Cultural Content Companies" together with the Korea Creative Content Agency at the CKL Corporate Support Center located in Jung-gu.

The Korea Creative Content Agency is a quasi-governmental organization under the Ministry of Culture, Sports and Tourism and serves as the comprehensive institution for promoting the content industry in Korea, carrying out support projects and policy research in areas such as content planning, production, distribution, corporate fostering, and research and development.

Through this business agreement, Shinhan Bank and the Korea Creative Content Agency plan to closely cooperate to discover and financially support outstanding cultural content companies, support global content companies' overseas expansion, and nurture content specialists, thereby contributing to the development of the content industry.

In particular, Shinhan Bank will contribute 1 billion KRW in a spirit of coexistence with small and medium-sized enterprises in the cultural content sector to support guarantee fees required during the financial support process linked with guarantee institutions for these companies.

Kim Kwang-soo, Vice President, said, "The K-content industry is standing out in the global market and has very high growth potential going forward," adding, "We hope this business agreement will serve as a foundation for the growth of small and medium-sized enterprises in the cultural content field."

Cho Hyun-rae, President of the Korea Creative Content Agency, stated, "Through this agreement, we will be able to create programs that alleviate the burden on companies in the cultural content sector when utilizing financial systems in this era of high interest rates," and added, "The Korea Creative Content Agency will continue to strive to act as a bridge with the financial sector so that the content industry can secure necessary funds and grow."