The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho) announced on the 18th that it signed a business agreement with Etri Holdings (CEO Park Sung-yong) at the company's headquarters in Daejeon to expand initial investment in innovative startups and support scale-up efforts. This agreement aims to link the two organizations' corporate support capabilities to jointly discover local startups with outstanding growth potential and technological prowess, and to establish a full-cycle support system from the initial stage to the growth stage.
Established in 2010 with 100% ownership by the Electronics and Telecommunications Research Institute (ETRI), ETRI Holdings is Korea's first technology commercialization investment firm. It is building a portfolio focused on deep tech-based ICT convergence technologies such as AI, big data, cloud computing, and the Internet of Things. To date, ETRI has invested in 142 companies, contributing to the expansion of the technology startup ecosystem.
Under the agreement, the two organizations will jointly discover promising local startups, provide financial and non-financial support to companies recommended by Etri Holdings, ease corporate burdens through reduced guarantee fees, and collaborate on programs to support scale-up of invested companies. Through these efforts, the goal is to establish a stable growth foundation for innovative startups.
Jeong Dae-young, head of the Chungcheong Regional Headquarters of the Korea Technology Finance Corporation, said, “This agreement will serve as an opportunity to secure initial liquidity and sustainable growth for technology-based innovative startups,” and added, “We will expand cooperation with regional accelerators in the future to contribute to the revitalization of the venture investment ecosystem.”
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