The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Tuesday the 28th that it has implemented “Preferential Guarantees for Research Institutes and Advanced Technology Companies” to support the growth of advanced technology companies and strengthen the national strategic industrial foundation.
This preferential guarantee was established to strengthen the financial support base for companies with high technological innovation capabilities to grow independently by expanding the scope of support from existing research institutes to include advanced technology companies.
Through preferential guarantees, Kibo will actively support smooth financing and alleviate the financial burden of excellent technology companies by providing benefits such as ▲differentiated guarantee limit application according to technology business evaluation grade (up to KRW 2 billion), ▲increased guarantee ratio (up to 100%), and ▲reduction of guarantee fee (up to 0.5%p).
Eligible for support are research institutes and advanced technology companies. Advanced technology companies are designated by the Minister of Science and ICT pursuant to the Special Act on the Promotion of Research and Development Special Zones. They are companies located in special research and development zones that produce and sell products in fields with high technology intensity and rapid technological innovation, such as information and communication technology, biotechnology, and nanotechnology.
Kibo expects that the implementation of this system will promote research and development and technology commercialization by advanced technology companies, contribute to the creation of new industries in the advanced technology field, and enhance the competitiveness of national strategic industries.
Kim Jong-ho, Chairman of Kibo, said, “The growth of cutting-edge technology companies that lead technological innovation is the source of our nation’s technological competitiveness,” and added, “Going forward, Kibo will actively support the global expansion and sustainable growth of innovative technology companies by discovering excellent technology companies and strengthening customized financial support.”
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