The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Thursday the 16th that it has signed a “K-Content Enterprise Financial Support Business Agreement” with Kookmin Bank (CEO Lee Hwan-joo) to foster the cultural content industry and revitalize the market.
This agreement was promoted to resolve the financial difficulties faced by content companies who are experiencing difficulties in securing funds due to increasing content production costs and the increased demand for pre-production funds during the planning and development stages, and to establish a financial support foundation for revitalizing the content ecosystem.
According to the agreement, Kibo will provide a guarantee support agreement guarantee worth 50 billion won based on Kookmin Bank's guarantee support fund of 1 billion won, and Kookmin Bank will support the guarantee fee (1.0%p, for up to 2 years).
The target of support is ▲cultural content production companies ▲leading content industry operators, etc., among new technology businesses that meet the technology guarantee support requirements of the Korea Technology Finance Corporation.
Through this agreement, the two organizations plan to alleviate the financial burden on content production companies and support the production activities of excellent content companies, thereby strengthening their industrial competitiveness and supporting their entry into the global market.
Kim Jong-ho, CEO of Kibo, said, “While K-content has recently been gaining global attention, domestic content production companies are facing difficulties due to rising production costs,” and added, “Kibo will continue to strengthen its support in cooperation with relevant organizations to expand K-content globally and foster the content industry.”
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