The Korea Technology Finance Corporation (hereinafter referred to as the “KIBO”) announced on Thursday, the 17th that it signed a “Business Agreement to Strengthen Support for Technology Finance for SMEs” with NH Nonghyup Financial Group (Chairman Lee Chan-woo, hereinafter referred to as “NH Nonghyup Financial Group”) at its Busan headquarters.
This agreement was prepared to proactively support small and medium-sized venture companies that are experiencing difficulties amid the uncertainty of the global trade environment, such as the aftermath of reciprocal tariffs from the United States, and to support management stabilization and innovative growth.
Through this agreement, the two organizations plan to establish a comprehensive collaboration system in various fields such as technology financing, investment, and consulting, and to enhance financial and non-financial support to improve financial accessibility for small and medium-sized venture companies.
In addition, Kibo signed a separate detailed agreement with Nonghyup Bank to provide a maximum of KRW 65.7 billion in agreement guarantees through special contributions and guarantee fee support.
Kibo will support a special contribution agreement guarantee worth 30 billion won with a special contribution fund of 1.5 billion won as a financial resource, and will provide preferential benefits such as ▲increase in guarantee ratio (85% → 100%, for 3 years) and ▲reduction of guarantee fee (0.2%p↓, for 3 years). In addition, Kibo will supply a guarantee fee support agreement guarantee worth 35.7 billion won based on Nonghyup Bank’s guarantee fee support fund of 500 million won, and Nonghyup Bank will support the guarantee fee (0.7%p, for 2 years).
The support targets are new technology business operators who meet the technology guarantee requirements of the Korea Development Bank, ▲ companies operating cutting-edge technology industries such as artificial intelligence (AI), nuclear power plants, autonomous driving, aerospace, defense, and bio, and ▲ small and medium-sized enterprises in industries supporting competitiveness such as semiconductors, secondary batteries, electric vehicles, new and renewable energy, steel, shipbuilding, and cosmetics.
Kim Jong-ho, CEO of Kibo, said, “With this agreement, Kibo, a leading technology finance organization, and NH Nonghyup Financial Group, one of the top five financial holding companies, have joined forces to proactively respond to changes in the global trade environment and support the recovery of competitiveness in cutting-edge technology industries.” He added, “Going forward, Kibo will actively support SMEs to continue to grow even in uncertain economic conditions at home and abroad by expanding collaboration with financial institutions.”
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