iM Bank and Korea Credit Guarantee Fund Launch 150 Billion Won Productive Financial Support Initiative

Preferential Guarantee Support

The Korea Credit Guarantee Fund announced on December 23 that it has signed a "Productive Financial Support Package Agreement for Regional Economic Revitalization" with iM Bank at the Daegu Suseong iM Bank headquarters.

Under the agreement, iM Bank will contribute a total of 5.3 billion won to the Korea Credit Guarantee Fund (5 billion won as a special contribution and 300 million won for guarantee fee support). Using these funds, the Korea Credit Guarantee Fund plans to provide special contribution agreement guarantees and guarantee fee support agreement guarantees totaling 150 billion won.

Through this agreement, the two organizations will strengthen financial support tailored to the growth stages and characteristics of companies in five key areas: recovery of the real economy and expansion of productive finance, establishment of growth ladders for small and medium-sized enterprises (SMEs) and mid-sized companies, fostering an innovative startup ecosystem, promoting guarantees for carbon-free energy, and revitalizing the social solidarity economy.

First, special contribution agreement guarantees will be provided to companies operating in regional base industries and new growth engine industries. Through this, a 100% guarantee ratio will be applied for three years, and the guarantee fee will be reduced by 0.2 percentage points. For guarantee fee support agreement guarantees, the guarantee fee will be reduced by 0.5 percentage points for three years, alleviating the financial burden on companies.

For candidate mid-sized companies and early-stage mid-sized enterprises in the innovative growth sector, special contribution agreement guarantees will be provided with a preferential guarantee ratio of 90% to 95%, thereby strengthening the growth ladder from SMEs to mid-sized companies. For innovative startups, guarantee fee support agreement guarantees will provide a 0.5 percentage point reduction in guarantee fees for three years.

Hwang Byungwoo, President of iM Bank (left), and Choi Wonmok, Chairman of the Korea Credit Guarantee Fund (right), are attending the "Productive Financial Support Package Agreement Ceremony for Regional Economic Revitalization" and posing for a commemorative photo. Photo by Korea Credit Guarantee Fund

For companies and power generation businesses with carbon-free energy guarantee-related technologies, as well as social enterprises, cooperatives, and other social solidarity economy organizations, a 0.5 percentage point reduction in guarantee fees will be provided for two years.

Choi Wonmok, Chairman of the Korea Credit Guarantee Fund, stated, "We expect this agreement to strengthen the foundation for corporate growth and inject new vitality into the regional economy through regionally focused productive financial support. We will continue to expand cooperation with related organizations to further promote regionally preferential finance."

Hwang Byungwoo, President of iM Bank, expressed, "This special contribution and the launch of new products have been prepared to drive sustainable corporate growth and the circulation of funds into the regional economy. Going forward, iM Bank will continue to actively contribute to the spread of productive finance."