The Korea Technology Finance Corporation (hereinafter referred to as “KIBO”) announced on Friday the 30th that it had signed a “Business Agreement for Financial Support for Fostering Promising SMEs and Creating a Venture Ecosystem” with Hana Bank.
This agreement was prepared to support the stable corporate activities of promising small and medium-sized venture companies by establishing a close cooperative system between the two organizations, and to contribute to overcoming internal and external uncertainties and creating a sustainable venture ecosystem.
According to the agreement, Kibo will provide preferential support for a special contribution agreement guarantee totaling 6 billion won, with Hana Bank's special contribution of 300 million won as the source of funds. The target of support is small and medium-sized enterprises that are venture companies among new technology business operators that meet Kibo's technology guarantee requirements.
The company can receive up to KRW 500 million in operating funds, and will also receive various preferential benefits, such as ▲increased guarantee ratio (from 85% to up to 100%, for 3 years) and ▲guarantee fee reduction (up to 0.3%p↓, for 3 years).
Through this agreement, the two organizations plan to strengthen policy support to support smooth financing of promising venture companies that are experiencing difficulties in attracting investment, etc., and to reduce the burden of financial costs so that they can grow into self-reliant companies.
Kim Jong-ho, CEO of Kibo, said, “This agreement establishes a systematic cooperation plan to foster excellent small and medium-sized venture companies that are struggling in the midst of uncertain economic environments both domestically and internationally.” He added, “Kibo will continue to strengthen the growth foundation of promising small and medium-sized venture companies through collaboration with relevant organizations and expand customized policy support to create a sustainable corporate growth ecosystem.”
- See more related articles
You must be logged in to post a comment.