The Korea Technology Finance Corporation (KIBO) announced on November 6th that it signed a "Comprehensive Business Agreement for the Promotion of Productive Finance" with Jeju Bank (CEO Lee Hee-soo) and Korea Evaluation Data (CEO Hong Du-seon) at its headquarters in Jeju. This agreement is a follow-up measure to the "Business Agreement for Productive Finance Support with Regional Banks" signed between KIBO and six major regional banks in August. It aims to discover promising regional technology-based SMEs and provide customized financial support to strengthen their industrial competitiveness.
Under the agreement, the three organizations will utilize Korea Evaluation Data's Korea Growth Potential Scoring (KOGPS) service to proactively identify technology companies with high growth potential. Building on this, they plan to link KIBO's technology guarantee system with Jeju Bank's financial products and platforms to provide data-driven financial support.
In addition, the two sides agreed to strengthen cooperation in various areas, including joint development of policy finance products, expansion of digital-based corporate finance services, and information sharing and performance monitoring, to increase access to funds for promising local SMEs and build a sustainable, productive financial ecosystem.
Through this agreement, Kibo will strengthen its technology-focused SME support infrastructure, while Jeju Bank will expand its financial support capacity necessary to foster local industries. Korea Evaluation Data will analyze corporate data to go beyond credit ratings and quantify growth potential. This collaboration between the three organizations is significant in that it will enhance the innovative capabilities of local SMEs and align with the emerging industry trend of data-driven finance.
Kim Jong-ho, Chairman of Kibo, said, “This agreement has laid the foundation for fostering ventures and startups and strengthening the competitiveness of regional industries.” He added, “Kibo will continue to expand collaboration with related organizations to support the revitalization of productive finance and strive to help promising technology-oriented SMEs become key drivers of regional growth.”
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