The Korea Technology Finance Corporation (hereinafter referred to as the “KIBO”) announced on Friday the 2nd that it will establish and implement a taxonomy evaluation guarantee system to systematically foster green technology and environmental industries.
Taxonomy Evaluation Guarantee is a green sector-specific guarantee that selects and supports targets through the Taxonomy Evaluation System (hereinafter referred to as 'KTAS') developed by Kibo. Kibo was the first guarantee institution to receive 40 billion won from the Climate Response Fund, and plans to provide 280 billion won in guarantees this year based on this.
The target is small and medium-sized enterprises engaged in green economic activities, and the limit per company is 3 billion won for operating funds and 10 billion won for facility funds. Kibo will provide support by applying preferential conditions such as ▲increasing the guarantee ratio (85% → maximum 95%) and ▲reducing the guarantee fee (maximum 0.4%p↓).
In addition, by linking guarantee agreements with seven banks (Kookmin, Industrial Bank of Korea, Nonghyup Bank, Woori, Shinhan, Hana, and iM Bank) and providing guarantee fee support benefits (0.7%p, for two years), the plan is to significantly ease the financial cost burden on companies and promote the growth of green industries.
In February, Kibo signed a 'K-Taxonomy Linked Green Credit Activation Business Agreement' with seven banks and established a cooperative system to support green loan programs based on K-Taxonomy. Through this, Kibo is increasing small and medium-sized enterprises' access to green finance and supporting carbon-neutral management.
Kim Jong-ho, CEO of Kibo, said, “Kibo will lead green finance by introducing dedicated guarantee products for green technology and environmental industry companies and actively foster climate tech companies with excellent technologies,” adding, “We will continue to focus our accumulated green technology evaluation capabilities and strengthen collaboration with the private sector so that more funds can flow into green projects and technologies.”
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