The Korea Technology Finance Corporation (KTFC) (Chairman Kim Jong-ho, hereinafter referred to as “KIBO” ) and the Korea-ASEAN Financial Cooperation Center (Director Lee Young-jik) announced that they co-hosted the “One-Stop Financial Support Briefing Session in Indonesia” at the Korea-ASEAN Financial Cooperation Center in Jakarta, Indonesia on Thursday, the 25th.
This briefing session was designed to address funding challenges faced by Korean technology companies entering the Indonesian market, a market noted for its world's fourth-largest population and rapid digital economic growth, and to expand the foundation of its local global investment network.
On this day, the event was attended by a large number of officials from major commercial banks operating in Indonesia, including Industrial Bank of Korea, Shinhan Bank, Woori Bank, and Hana Bank, as well as domestic and foreign venture capital firms (VCs) such as The Ventures, Indis Capital, Intervest, and Kilsa Global, showing great interest.
The event began with an opening speech by Minister Ham Jeong-han of the ASEAN Mission, followed by ▲introduction to Kibo's technology evaluation system and overseas expansion guarantee system ▲introduction to financial products by bank ▲introduction to Southeast Asian investment trends and fundraising strategies ▲sharing of global VC investment strategies and procedures ▲private IR and 1:1 consultations by company.
In particular, Kibo initiated a process to provide overseas expansion guarantees worth a total of 3.5 billion won to five companies on-site, directly presenting executable financial solutions. The participating companies received favorable reviews, saying they received practical assistance by meeting guarantee institutions, VCs, and banks in one place.
Lee Young-jik, Director of the Korea-ASEAN Financial Cooperation Center, said, “This briefing session is a model case of financial cooperation between Korea and ASEAN,” and added, “The center will continue to work closely with related organizations, including the Korea Development Bank, to strengthen the financing capabilities of companies operating in the region and contribute to building a sustainable financial ecosystem.”
Kwak Yong-ju, head of Kibo Singapore Branch, said, “Kibo Singapore Branch is a key base in the ASEAN market and actively supports the global scale-up of domestic innovative companies,” and “We will use this briefing session as an opportunity to expand our support so that more companies can attract overseas investment and leap forward as global companies.”
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