Kibo Accelerates Support for Technological Independence of 'Sobujang' Companies

Introduction of a 300 Billion KRW Special Guarantee Program Providing Up to 3 Billion KRW Support per Company

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 9th that it will strengthen the preferential guarantees, which have been implemented since last year to overcome Japan's export regulations and support the technological independence of 소재·부품·장비 (Sobu-jang, Materials, Parts, and Equipment) companies, by implementing the 'Special Guarantee for Companies Engaged in the Materials, Parts, and Equipment Industry.'

This special guarantee was prepared to break away from the externally dependent industrial structure of the Sobu-jang industry and support the technological independence of Sobu-jang companies. Kibo has secured the related budget from the government and plans to support special guarantees worth 300 billion KRW this year. For eligible companies, Kibo will increase the guarantee ratio up to 95%, reduce the guarantee fee by up to 0.4 percentage points, and relax screening criteria, providing up to 3 billion KRW per company through preferential measures.

Kibo formed the 'Emergency Response Team for Japan Export Regulations' in August last year to support Sobu-jang companies affected by Japan's export regulations, continuously monitoring affected companies and their scale, and has been making various efforts such as supporting preferential guarantees through agreements with commercial banks. Director Kim Young-chun of Kibo said, "We plan to actively support technology development and commercialization funds through special guarantees for the technological independence of Sobu-jang companies," adding, "We will continue to do our best to support the enhancement of global competitiveness and innovative growth of the Sobu-jang industry."

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