Shinhan Bank and Korea Technology Finance Corporation to Provide 50 Billion Won in Guarantees for Companies Entering North America

Shinhan Bank announced on January 12 that, together with the Korea Technology Finance Corporation, it will provide a total of 50 billion won in guaranteed agreements to support domestic companies entering the North American market.

Do Gunwoo, Head of Shinhan Bank's Americas Regional Headquarters (right), and Kim Joungho, Chairman of the Korea Technology Finance Corporation, are taking a commemorative photo after signing a business agreement to expand financial support for domestic companies entering the North American market at the Korea Technology Finance Corporation's Silicon Valley branch in the United States on the 8th. Provided by Shinhan Bank

In this regard, Shinhan Bank signed a business agreement with the Korea Technology Finance Corporation at its Silicon Valley branch in the United States on January 8 (local time).

This business agreement was established to help domestic companies with technological capabilities and growth potential operate their businesses stably, as investments by Korean companies in the United States are expected to increase following the Korea-US customs agreement.

Through this agreement, the two institutions will provide a total of 50 billion won in guaranteed agreements to domestic companies operating local subsidiaries in North America. The funds will be sourced from Shinhan Bank's special contributions, with the guarantee ratio raised from the previous 85% to 100%, and the guarantee fee will be subsidized by 0.7 percentage points for two years. This is intended to reduce the financial burden for domestic companies that have relatively limited access to local financial markets.

Shinhan Bank operates four networks in North America: Shinhan Bank America, the New York Branch, Shinhan Canada, and Shinhan Mexico. In November 2024, it also established a representative office in Georgia.

A Shinhan Bank official stated, "Through this agreement, we are now able to provide effective financial support to domestic companies that have entered the North American market, a key region in responding to the restructuring of global supply chains," adding, "Going forward, we will continue to strengthen cooperation for overseas expansion of domestic companies by linking the Korea Technology Finance Corporation's technology evaluation-based guarantee support capabilities with Shinhan Bank's local financial network."