Low-Interest Loans Provided to 1,257 Companies Totaling KRW 1.2425 Trillion Last Year
Investment Support of KRW 92.5 Billion for 51 Companies
The Korea Technology and Information Promotion Agency for SMEs (Kigongwon) announced on May 15 that it is supporting small and medium-sized enterprises (SMEs) with outstanding technological capabilities to commercialize technologies they have successfully developed through research and development (R&D).
Kigongwon previously signed an agreement to designate IBK Industrial Bank of Korea and Hana Bank as dedicated banks for SMEs, providing a total of 3.7 trillion KRW in loans and investments over three years from 2024 to 2026. In the first year of the agreement, last year, the two dedicated banks provided loans totaling 1.2425 trillion KRW to 1,257 companies and investments totaling 92.5 billion KRW to 51 companies, achieving 110% of the loan target and 116% of the investment target.
With the cooperation of the dedicated banks, Kigongwon held six corporate IR (investment relations) sessions annually, inviting investment professionals to support SMEs in attracting investment. In particular, through these investment relations sessions, the company Kolley attracted investment from IBK Industrial Bank of Korea and Hana Bank, achieving a total investment of 2.5 billion KRW.
In addition to loans and investments, IBK Industrial Bank of Korea and Hana Bank are helping SMEs commercialize their technologies through a variety of financial and non-financial support programs. IBK Industrial Bank of Korea facilitated the recruitment of 2,081 employees through an online technology talent recruitment platform for companies engaged in technology development, and supported a job fund of 644 million KRW. The bank also selected 59 companies performing technology development under the Ministry of SMEs and Startups for its innovation startup platform, 'IBK Changgong.' Hana Bank continues to provide financial support to companies engaged in R&D through various loan programs with preferential interest rates.
Kim Youngshin, President of Kigongwon, stated, "If the technological achievements of SMEs do not lead to commercialization, the value of the developed technology may be limited." He added, "Kigongwon and the dedicated banks will continue to establish an integrated support system between finance and policy this year to promote the commercialization of R&D achievements, and we will actively support SMEs so that they can grow into globally competitive small giants in both domestic and global markets."
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