Support for Special Contribution Agreement Guarantees Worth 180 Billion Won
Korea Technology Finance Corporation announced on the 26th that it has signed a "Productive Financial Support Business Agreement for Fostering AtoF Future Strategic Industries" with KB Kookmin Bank.
Headquarters of the Korea Technology Credit Guarantee Fund, Nam-gu, Busan. Korea Technology Credit Guarantee Fund
This agreement was prepared to build a practical financial support framework that will enhance financial accessibility for companies operating in advanced strategic industries and support their stable growth, in line with the government's policy to foster future growth engine industries.
Under the agreement, Korea Technology Finance Corporation will provide special contribution agreement guarantees worth 180 billion won, funded by a special contribution of 9 billion won from KB Kookmin Bank. Korea Technology Finance Corporation will offer benefits such as ▲raising the guarantee ratio (from 85% to 100% for three years) and ▲reducing guarantee fees (by 0.2 percentage points for three years).
In addition, based on 4 billion won in guarantee fee support funds from KB Kookmin Bank, Korea Technology Finance Corporation will supply agreement guarantees with guarantee fee support totaling 250 billion won, while KB Kookmin Bank will ▲support guarantee fees (by 0.8 percentage points for two years).
The support will be available to new technology businesses that meet Korea Technology Finance Corporation's technology guarantee requirements and operate in the six major advanced strategic industries: ▲Artificial Intelligence (AI) ▲Bio ▲Contents & Culture ▲Defense ▲Energy ▲Factory (advanced manufacturing).
Taking this agreement as a starting point, the two institutions plan to continue their cooperation to ease the financial burden on small and medium-sized enterprises in future strategic industries, and to support the strengthening of advanced industry infrastructure and the growth of technology-driven new industries.
Kim Joungho, Chairman of Korea Technology Finance Corporation, said, "Through this agreement, a financial support foundation has been established for innovative companies that will drive future growth engines," adding, "Korea Technology Finance Corporation will continue to strengthen cooperation with related institutions to actively contribute to the spread of productive finance and the creation of an innovation-driven growth ecosystem."
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