The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Monday the 18th that it signed a “Financial Support Agreement for Fostering Technology Innovation-Type SMEs in the Southeast Region” with Hana Bank (CEO Lee Ho-seong) at the KIB headquarters.
This agreement was promoted to foster technologically innovative small and medium-sized enterprises (Inno-biz) in the southeastern region as regional growth engines and to support stable financing and the creation of a growth foundation through cooperation between private and public institutions.
Under the agreement, Kibo will provide preferential support for a special contribution agreement guarantee totaling KRW 6 billion, funded by a special contribution of KRW 300 million from Hana Bank. Eligible for support are innovative technology (Inno-biz) companies that meet Kibo's technology guarantee requirements and whose headquarters or main business is located in the Busan or Ulsan region.
The company can receive up to KRW 300 million in operating funds, and will also receive preferential benefits such as ▲increased guarantee ratio (from 85% to 100%, for 3 years) and ▲guarantee fee reduction (up to 0.3%p↓, for 3 years).
Through this agreement, the two organizations plan to improve the financing conditions for technologically innovative SMEs in the Busan and Ulsan regions and strengthen their growth foundations by combining Kibo's technology assessment and guarantee capabilities with Hana Bank's financial infrastructure.
Kim Dae-cheol, CEO of Kibo, said, “This agreement is the starting point for fostering local technologically innovative SMEs as future growth engines,” and added, “Kibo will continue to strengthen cooperation with financial institutions to discover and nurture companies with high growth potential and contribute to revitalizing the local economy through customized support.”
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