Kibo and Hana Bank Expand Support for Technology-Based SMEs in the Honam Region

100 Billion KRW Partnership Guarantee Support
Funded by Bank's Special Contribution

On April 25, Korea Technology Finance Corporation (Kibo) announced that it had signed a "Financial Support Partnership Agreement for Technology-Based SMEs in the Honam Region" with Hana Bank. This agreement was established to build a close collaborative system between the two institutions, support the stable business operations of technology-based small and medium-sized enterprises (SMEs) located in the Honam region, and contribute to the region's self-reliant growth and the realization of a dynamic economy.

Under the agreement, Kibo will provide a special guarantee program totaling 10 billion KRW, funded by a 500 million KRW special contribution from Hana Bank. The support targets SMEs that meet Kibo's technology guarantee requirements and have their headquarters or main business operations located in the Honam region.

Eunshik Oh, Head of Kibo Honam Regional Headquarters (left), and Seunggu Woo, Vice President of Hana Bank Honam Sales Group, are taking a commemorative photo after signing a business agreement. Photo by Kibo

Eligible companies can receive up to 300 million KRW in working capital support. Preferential benefits include an increase in the guarantee ratio (from 85% to up to 100% for three years) and a reduction in guarantee fees (by up to 0.2 percentage points for three years). Through this agreement, the two institutions plan to expand financial infrastructure, which is currently concentrated in the Seoul metropolitan area, into the region, reduce financial costs for technology-based SMEs, and link customized support programs to revitalize the region's technology startup ecosystem.

Eunshik Oh, Head of Kibo Honam Regional Headquarters, said, "This agreement has established a collaborative framework for discovering and nurturing outstanding small and venture businesses in the Honam region," adding, "Kibo will continue to expand tailored support for local technology companies and take the lead in revitalizing the regional economy."