The Korea Technology Finance Corporation (hereinafter referred to as the “KIBO”) announced that it signed a “comprehensive financial support business agreement for overseas expansion of domestic companies” with Hana Bank (CEO Ho-seong Lee) at its Busan headquarters.
This agreement was prepared to create a synergy effect in financial support by combining Kibo’s technology finance infrastructure and Hana Bank’s overseas network amidst the rapidly changing global trade environment, and to promote overseas expansion of excellent small and medium-sized venture companies. The two organizations decided to build a close cooperative system to jointly discover promising companies for overseas expansion and join forces to foster global companies through comprehensive financial support.
According to the agreement, the two organizations will pursue various collaborations, including ▲ mutual company recommendations to support the global expansion of excellent small and medium-sized venture companies ▲ activation of joint financial support ▲ improvement of local funding accessibility for companies expanding overseas. In addition, they agreed to strengthen effective support in non-financial sectors, such as financial consulting and information provision for companies expanding overseas and support for developing overseas markets.
Kibo has been actively providing policy guarantees such as overseas expansion guarantees and export diversification support special guarantees to support the successful settlement of domestic small and medium-sized enterprises in overseas markets. With this agreement, it plans to maximize synergy effects by supporting Hana Bank's specialized financial products for companies entering overseas markets.
Meanwhile, Kibo will open its first overseas branch in Singapore in June based on its long-accumulated technology finance capabilities and global network. Through this, Kibo plans to promote overseas expansion guarantees and attract global investment, thereby laying the foundation for overseas expansion for small and medium-sized venture companies.
Kim Jong-ho, CEO of Kibo, said, “This agreement is significant in that it provides practical support measures for the successful global expansion of domestic SMEs,” adding, “Kibo will continue to expand its global cooperation network with related organizations and actively support promising companies expanding overseas to become global companies by linking them with customized policy support.”
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