"R&D Companies Actively Supported" Kibo, Partners with Kookmin Bank

[Financial News] The Korea Technology Finance Corporation will provide financial support for the growth of research and development (R&D) companies.
The Korea Technology Finance Corporation announced on the 21st that it has signed a financial support business agreement (MOU) for 'Real Growth of Korea' with Kookmin Bank to foster future growth industries and build growth foundations.
This agreement was prepared to preemptively support Korea's 'real growth' through private and public cooperation.
According to the agreement, the two organizations will jointly support R&D companies in technology-driven new industries such as artificial intelligence (AI), defense, bio, content, and energy, as well as in building growth foundations for future generations such as responding to the climate crisis.
The support targets are new technology businesses that meet Kibo's technology guarantee requirements, including △AI·Semiconductor △Pharmaceutical·Bio·Healthcare (K-Food) △Automobile·Shipbuilding·Defense (Aerospace) △Hallyu·Software (SW)·Cultural Content △Environment·Social·Governance (ESG)·Eco-friendly·Carbon·Energy △Deep Tech·Fintech R&D companies.
The two organizations plan to provide agreement guarantees of up to 146.7 billion KRW. Kibo will support a special contribution agreement guarantee of up to 80 billion KRW using Kookmin Bank's special contribution of 4 billion KRW as a resource. They will increase the guarantee ratio from 85% to 100% over three years and offer preferential benefits such as a 0.2%p reduction in guarantee fees. Additionally, based on Kookmin Bank's guarantee fee support fund of 1 billion KRW, they will supply a guarantee fee support agreement guarantee of 66.7 billion KRW. Kookmin Bank will support a 0.5%p guarantee fee for three years.
Kim Jongho, Chairman of Kibo, said, "Through the agreement, we have established a financial foundation to actively support the commercialization of R&D companies that operate future food industries, supporting the era of 'real growth of the Korean economy.' We will do our best to expand collaboration with financial institutions to actively support the nurturing of future strategic industries and contribute to technology-driven growth."
kaya@fnnews.com Choi Hyerim Reporter