Kibo Signs "Comprehensive Financial Support Agreement for Overseas Expansion" with Hana Bank

Discovering and Jointly Recommending Outstanding SMEs

On April 21, Korea Technology Finance Corporation (Kibo) announced that it had signed a "Comprehensive Financial Support Business Agreement for Overseas Expansion of Domestic Companies" with Hana Bank.

Kim Jongho, Chairman of Kibo, and Lee Hoseong, President of Hana Bank, are posing for a commemorative photo after signing a business agreement. Photo by Kibo

This agreement ceremony was organized to create synergy in financial support for small and medium-sized enterprises (SMEs) by combining Kibo's technology finance infrastructure with Hana Bank's overseas network in the rapidly changing global trade environment. The two organizations have agreed to establish a close cooperation system, jointly identify promising companies for overseas expansion, and work together to foster global companies through comprehensive financial support.

Under the agreement, the two organizations will promote: mutual recommendation of outstanding small and medium venture companies for global expansion; activation of joint financial support; and improvement of local funding accessibility for companies entering overseas markets. In addition, they plan to strengthen effective non-financial support such as providing financial consulting and information for overseas expansion companies, as well as assisting in overseas market development.

Kibo has recently been actively supplying policy guarantees, such as overseas expansion guarantees and special guarantees to support export diversification, to help domestic SMEs successfully enter overseas markets. With this agreement, Kibo plans to maximize synergy by linking specialized financial products from Hana Bank for companies expanding abroad.

Meanwhile, Kibo will open its first overseas branch in Singapore in June. Through this, Kibo aims to promote the activation of overseas expansion guarantees and attract global investment, laying the foundation for SMEs and venture companies to expand overseas.

Kim Jongho, Chairman of Kibo, said, "This agreement is significant in that it provides practical support measures for the successful global expansion of domestic SMEs and venture companies," adding, "Kibo will continue to expand its global cooperation network with related organizations and provide tailored policy support so that promising companies for overseas expansion can grow into global enterprises."