"KRW 500 Million Contribution, KRW 10 Billion in Guarantees"... Korea Credit Guarantee Fund, Busan Bank Sign MOU on Productive Financial Support for K-Content

[Financial News] Korea Credit Guarantee Fund (KODIT) signed an MOU on productive financial support for K-Content with Busan Bank.
According to financial industry sources on the 6th, KODIT and Busan Bank developed the agreement to support the growth of regional cultural-content companies in line with the government's policy of promoting productive finance. The initiative aims to support sustainable growth by reducing the financial burden on broadcasting, film and performance companies.
Under the agreement, Busan Bank will contribute KRW 500 million to KODIT. KODIT will use the funds to provide guarantees worth a total of KRW 10 billion.
Eligible companies are those operating in the cultural-content industry. They include companies that plan, produce or commercialize content, as well as those that use content intellectual property (IP).
KODIT will apply a 100% guarantee coverage ratio for three years to companies using the guarantees provided under the agreement. It will also lower the guarantee fee rate by 0.5 percentage points to ease their financial burden.
A KODIT official said, "We hope this agreement will provide tangible assistance to K-Content companies in securing funding smoothly and easing their financial burden."
[email protected] Park Moon-soo Reporter