“100 Days in Office”: KOTEC Chairman Kwon Hyung-taek Pledges to “Build a Comprehensive Support System for Technological Innovation”
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- 2026-10-22 16:35:22
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- 2026-10-22 16:35:22
[Financial News] Kwon Hyung-taek, chairman of Korea Technology Finance Corporation (KOTEC), marked his 100th day in office by presenting a blueprint to transform a support system centered on technology guarantees into a comprehensive system covering the entire technology innovation lifecycle. Based on the needs of small and midsize businesses and venture firms identified through on-the-ground communication, KOTEC plans to support the growth of innovative companies by overhauling its organizational structure, upgrading AI-based technology assessments and expanding its financial resources.
KOTEC said on the 22nd that Chairman Kwon would begin pursuing these innovation initiatives in earnest to mark his 100th day in office.
Kwon, who took office on July 15, visited businesses and sales offices to hear about regulatory hurdles and demand for financial support. Last September, he held a management strategy workshop attended by heads of sales offices nationwide and others, where they discussed the role of technology finance in responding to the government’s key industrial development policies and support measures for each stage of business growth.
KOTEC will expand its existing system, which focuses on technology guarantees, into a comprehensive support system linking technology assessments, technology transactions, technology protection, mergers and acquisitions (M&A), and the commercialization of research and development (R&D). It is reviewing a reorganization of its operating structure, and a related bill to amend the law has been introduced in the National Assembly.
KOTEC will also strengthen its AI- and data-based technology assessment capabilities. It plans to refine its assessment models using accumulated data on technologies and companies, and to incorporate the characteristics of future strategic industries such as AI, semiconductors and advanced manufacturing into its assessments. The aim is to link assessment results to guarantees, investment and technology transactions to support the commercialization and growth of promising companies.
KOTEC is also exploring ways to strengthen its financial base, including increasing government contributions, to secure greater capacity to support future strategic industries. It has previously pursued agreement-based guarantees worth 975 billion won with Woori Bank in semiconductors, physical AI and AI data centers. It has also pursued such guarantees to support partner companies in cooperation with Hyundai Mobis and Hana Bank, as well as Hyundai Motor, Kia and Industrial Bank of Korea.
Kwon said, “In a rapidly changing global environment, our small and midsize businesses and venture firms need bold technological innovation and sufficient funding to support it if they are to grow into companies that lead global markets,” adding, “As a partner that stands alongside innovative companies in their challenges and growth, KOTEC will work to create a new growth engine for South Korea.”
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