Korea Technology Finance Corporation Signs Agreement with KB Kookmin Bank to Promote Technology Startup Growth

500 Billion Won in Guarantee Fee Support Agreements to Be Provided

On September 19, the Korea Technology Finance Corporation announced that it had signed a "Financial Support Business Agreement for the Promotion and Growth of Technology Startups" with KB Kookmin Bank.

Exterior view of the Korea Technology Finance Corporation headquarters. Kibo

This agreement was established to strengthen financial support for technology startups, alleviate the financial burden during the early stages of founding, and provide tailored support at each stage of growth to help startups build a stable foundation for sustainable growth.

Under the agreement, the Korea Technology Finance Corporation will provide guarantee fee support agreements totaling 50 billion won, based on a 1 billion won guarantee fee support fund from KB Kookmin Bank. KB Kookmin Bank will support the guarantee fee (1.0 percentage points for two years).

The support targets are small and medium-sized enterprises that meet the Korea Technology Finance Corporation's technology guarantee requirements and have been established within the past seven years, including companies that foster the startup ecosystem, innovative startups eligible for growth support, and companies recommended by KB Kookmin Bank.

Both institutions plan to establish a close cooperation system under the agreement to jointly address financial difficulties faced by startups and to expand customized financial support so that technology startups with innovative technologies can grow into future core engines.

Kim Joungho, Chairman of the Korea Technology Finance Corporation, said, "This agreement has established practical support measures to resolve the financial difficulties of technology startups," adding, "The Korea Technology Finance Corporation will continue to expand cooperation with financial institutions to support the growth of promising startups with high growth potential and actively contribute to building a sustainable startup ecosystem."