Sinbo Partners with the Ministry of Science and ICT to Support Promising ICT Companies
[Asia Economy Reporter Kwon Haeyoung] On the 13th, the Korea Credit Guarantee Fund signed a business agreement with four organizations: the Ministry of Science and ICT, the Korea Telecommunications Operators Association, Seoul Guarantee Insurance, and Born2Global Center to foster 'Global ICT Future Unicorns.'
This agreement was established to select outstanding ICT companies with technological capabilities and global expansion potential and to build an integrated support system that provides comprehensive support such as guarantees and overseas expansion to help them grow into global unicorn companies.
To foster global ICT future unicorns, the Korea Credit Guarantee Fund will form a dedicated team to participate from the selection process of supported companies and discover promising ICT companies. Additionally, for selected companies, it will provide guarantee support up to 10 billion KRW, apply preferential guarantee rates (100%) and a fixed guarantee fee rate (0.5%), helping companies secure smooth financing and reduce financial burdens.
Through this agreement, the Ministry of Science and ICT will support the selection of target companies and their global market entry through overseas bases; the Korea Telecommunications Operators Association will create a high-growth ICT investment fund and support activities linked to attracting investments; Seoul Guarantee Insurance will expand the guarantee limit for performance bonds and offer premium discounts; and Born2Global Center will operate an overseas expansion intensive growth camp to assist selected companies in entering overseas markets.
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Yoon Daehee, Chairman of the Korea Credit Guarantee Fund, said, "This agreement has established a support system where the core competencies of the partner organizations are organically linked to foster the growth of promising ICT companies." He added, "The Korea Credit Guarantee Fund will spare no effort to support innovative companies with creative and passionate entrepreneurship to grow into global unicorns."
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