Gibo and Chuncheon Bio Industry Promotion Agency Join Hands to Support Bio Companies in Gangwon Region

Business Agreement Signed on the 8th to Support Technology Startups in the Bio Industry Sector

The Korea Technology Finance Corporation announced on the 8th that it has signed a "Technology Finance Support Business Agreement for Fostering Technology Startup Companies in the Bio Industry Sector" with the Chuncheon Bio Industry Promotion Agency.

The signing ceremony took place at the Promotion Agency building in Chuncheon, Gangwon Province. The goal is for both organizations to establish an organic cooperative system to discover bio technology startup companies with excellent technological capabilities and growth potential in the Gangwon region and to strengthen customized growth support.

Since its establishment in 2003, the Promotion Agency has been a specialized support organization leading the development of the regional bio industry through support projects at each growth stage, including technology commercialization of bio companies, domestic and international marketing, and workforce training.

According to the agreement, the Promotion Agency will discover and recommend outstanding bio startup companies based in the region, and the Korea Technology Finance Corporation will provide customized support programs for technology startup companies to the recommended SMEs, including ▲preferential guarantee rates and guarantee fee reductions ▲investment linkage and certification evaluation ▲technology transfer and technology protection, thereby supporting the stable growth of local SMEs. Additionally, both organizations will strengthen information exchange on excellent technology startup companies in the bio industry sector and expand collaboration for creating a regional startup ecosystem and fostering local industries.

Kim Chang-hyuk, President of the Promotion Agency, said, "This agreement has created an opportunity for excellent bio companies to grow stably," adding, "The Promotion Agency will continue to actively discover and support companies with high technological capabilities and growth potential to create an innovative ecosystem for the regional bio industry."

Kim Sung-tae, Head of the Korea Technology Finance Corporation's Seoul Eastern Regional Headquarters, said, "This agreement has established a cooperative foundation for full-cycle growth support from startup to scale-up for excellent bio companies in the Gangwon region," and added, "The Korea Technology Finance Corporation will continue to expand customized support through collaboration with related organizations and strive to contribute to revitalizing the regional economy and creating quality jobs."