The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as KTGF) announced on the 9th that it signed a ‘Productive Financial Support Business Agreement for the Promotion of Future Strategic Industries in the Chungcheong Region’ with Hana Bank (CEO Lee Ho-seong) at KTGF’s Chungcheong Regional Headquarters.
This agreement was established to promote the growth of technology-based new industries in response to the government's policy of fostering future growth engines and to establish a practical financial support system to strengthen the competitiveness of small and medium-sized enterprises (SMEs) in the Chungcheong region.
Under the agreement, KIBO will provide special contribution guarantees totaling KRW 20 billion, funded by a KRW 1 billion special contribution from Hana Bank. Eligible companies will receive up to KRW 300 million in operating funds and will also receive preferential benefits, including increased guarantee ratios and reduced guarantee fees. The guarantee ratio will be increased from 85% to 100%, and the guarantee fee will be reduced by 0.2 percentage points, both of which will remain in effect for three years.
Eligible for support are new technology companies that meet the technology guarantee requirements of the Korea Development Institute (KDI) and whose headquarters or main business is located in the Chungcheong region, including Daejeon and Sejong. SMEs operating in six key cutting-edge strategic industries, including artificial intelligence, biotechnology, cultural content, defense, energy, and advanced manufacturing, are primarily eligible for support.
Through this agreement, the two organizations plan to strengthen the foundation of future strategic industries in the Chungcheong region and continue to expand financial support to help high-growth SMEs establish themselves as key growth engines for the region's industries.
Lee Jae-pil, CEO of Kibo, stated that this agreement has laid the foundation for collaboration to foster technology-based SMEs in the Chungcheong region and enhance their competitiveness. He added that the company will continue to expand cooperation with related organizations to strengthen customized financial support that reflects the characteristics of regional industries and strive to foster balanced regional development and a sustainable industrial ecosystem.
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