KOTEC and Woori Bank guarantee 975 billion won for three major mega projects, including Physical AI

[Financial News] Korea Technology Finance Corporation (KOTEC) and Woori Bank have launched financial support for future strategic industries, including semiconductors, Physical AI, and AI data centers.
According to the industry on the 26th, KOTEC and Woori Bank signed the "K-SPARK Korea's Great Leap Forward Productive Financial Support Business Agreement" at Woori Bank's headquarters the previous day.
The agreement was designed to foster future strategic industries and support balanced regional development by easing the concentration of resources in the Seoul metropolitan area through productive financial support.
Under the agreement, KOTEC will provide guarantee-backed loans worth a total of 975 billion won, funded by Woori Bank's special contribution and guarantee fee support.
Through the guarantee program, KOTEC will raise the guarantee ratio for eligible companies from 85% to 100% for three years and offer preferential benefits, including a reduction in guarantee fees of up to 0.5 percentage points over the same period. Woori Bank will subsidize 1 percentage point of the guarantee fee for two years.
Eligible companies are new technology businesses that meet KOTEC's technology guarantee requirements and operate in strategic industries related to the three major mega projects for Korea's great leap forward, including semiconductors, Physical AI, and AI data centers.
Through this agreement, the two institutions plan to actively identify promising technology companies in advanced industries and expand cooperation so that productive finance can be supplied smoothly to these firms.

[email protected] Kim Hyun-chul Reporter