The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Monday, the 21st, that it signed a business agreement with Kookmin Bank (CEO Lee Hwan-joo, hereinafter referred to as “Kookmin Bank”) for financial support for “Real Growth of the Republic of Korea” to foster future growth industries and establish a growth foundation.
This agreement was prepared to proactively support Korea's 'real growth' through cooperation between the private and public sectors by fostering future growth industries and establishing a foundation for sustainable growth.
According to the agreement, the two organizations plan to jointly support R&D companies in technology-driven new industries such as AI, defense, bio, content, and energy, as well as in areas such as climate crisis response and building a growth foundation for future generations, and provide agreement guarantees worth up to KRW 146.7 billion.
First, Kibo will support a special contribution agreement guarantee of up to 80 billion won with the special contribution of 4 billion won from Kookmin Bank as the financial resource. Kibo will provide preferential benefits such as ▲increased guarantee ratio (85% → 100%, for 3 years) and ▲reduction of guarantee fee (0.2%p↓, for 3 years).
In addition, Kibo will provide a guarantee support agreement guarantee worth KRW 66.7 billion based on the KRW 1 billion in guarantee support funds from Kookmin Bank, and Kookmin Bank will support the guarantee fee (0.5%p, for 3 years).
The support target is R&D companies in the fields of ▲AI·semiconductors ▲pharmaceuticals·bio·healthcare (K-food) ▲automobiles·shipbuilding·defense (aerospace) ▲Korean Wave·S/W·cultural content ▲ESG·eco-friendliness·carbon·energy ▲deep tech·fintech among new technology business operators that meet the technology guarantee requirements of Kibo.
Kim Jong-ho, CEO of Kibo, said, “Through this agreement, we have established a financial foundation that will support the era of ‘real growth of the Korean economy’ by actively supporting the commercialization of R&D companies in future food industries such as AI, defense, and cultural content.” He added, “Going forward, Kibo will actively support the fostering of future strategic industries by expanding collaboration with financial institutions and do its best to contribute to technology-led growth.”
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