The Korea Technology Finance Corporation (KTIC ) announced on the 3rd that it signed a 'Business Agreement for Supporting the Development of Key Companies in the Busan and Yeongnam Region' with the Busan Metropolitan City, Busan Chamber of Commerce and Industry, Hana Bank, and Korea Credit Guarantee Fund at Busan City Hall.
This agreement was promoted to establish a sustainable growth foundation for companies operating in regional specialized industries and future strategic industries in the Yeongnam region and to foster a stable financing environment.
Under the agreement, Kibo will provide a special contribution guarantee worth 80 billion won, funded by a special contribution of 4 billion won from Hana Bank. The guarantee ratio will be increased from 85% to 100%, and the guarantee fee will be reduced by 0.3 percentage points for three years.
Additionally, a 100 billion won guarantee fee support agreement guarantee will be provided based on Hana Bank's 1.2 billion won guarantee fee support fund. In this case, Hana Bank will provide 0.6 percentage points of guarantee fee support for two years.
The Busan Metropolitan City and the Busan Chamber of Commerce and Industry plan to promote collaborative support to strengthen the self-reliance of local small and medium-sized enterprises through secondary conservation support and the discovery and recommendation of promising companies.
The target of support is a new technology business operator that meets the technology guarantee requirements of the Korea Technology Finance Corporation (KIBO), has its headquarters or main business site located in the Yeongnam region, and operates in six advanced strategic industries, including artificial intelligence, bio, cultural content, defense, energy, and advanced manufacturing.
Through this agreement, each organization plans to discover and nurture innovative companies with growth potential and expand customized support to enhance the competitiveness of the local industrial ecosystem. Kibo announced plans to continue strengthening collaboration with relevant organizations to support the enhancement of the competitiveness of local SMEs and the development of future strategic industries.
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