Kibo, Focused Support for Small and Medium Enterprises in Daegu and Gyeongbuk

Rapid Response through Special Guarantee Support and Innovative Guarantee Procedure Simplification

On the 6th, Jeong Yun-mo, Chairman of the Korea Baduk Association (center), visited the Daegu and Gyeongbuk regions to inspect the on-site situation related to COVID-19 damage.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Kibo) announced that Chairman Jeong Yun-mo visited all eight branches in the Daegu and Gyeongbuk regions on the 6th, which are experiencing management difficulties due to the novel coronavirus infection (COVID-19), to inspect the on-site situation and decided to focus support on small and medium-sized enterprises (SMEs) in the Daegu and Gyeongbuk areas through special guarantee support and simplification of guarantee procedures.

First, by implementing the 'Special Guarantee for SMEs Concerned about Damage from the Novel Coronavirus Infection,' the target companies have been expanded to include not only technology SMEs but also related industries such as performance, exhibition industries, event agencies, companies planning exports/imports to China, and indirect export/import companies. Preferential measures are being applied, including omission of credit review for working capital within 300 million KRW per company, an increased guarantee ratio (95%), and a fixed guarantee fee of 1.0%.

In particular, to allow SMEs affected in the Daegu and Gyeongbuk regions to focus on overcoming the crisis, guarantee applications will be unified through the cyber branch, and Kibo plans to directly collect investigation data. Additionally, by actively utilizing the one-click guarantee, the processing procedures have been drastically simplified so that affected SMEs can receive guarantee certificates without visiting Kibo branches.

Furthermore, for existing guarantees, the maturity will be extended in full for one year in principle, and procedures will be simplified to minimize inconvenience to companies, such as omitting on-site business inspections and VAT report data collection for companies with credit downgrades during maturity extension. For technology evaluation tasks related to extensions for venture companies and Inno-Biz companies, on-site inspections are omitted and handled promptly through non-face-to-face methods.

Chairman Jeong Yun-mo of Kibo stated, "Through this special guarantee and simplification of guarantee procedures, we will contribute to revitalizing the regional economy by providing swift and practical support to SMEs in the Daegu and Gyeongbuk regions experiencing management difficulties due to COVID-19."

This content was produced with the assistance of AI translation services.