Kibo-Woori Bank, 'Post-Corona Response Innovative Growth Companies Financial Support Agreement'

Supporting the Rapid Recovery and Growth of Innovative Growth Companies After the COVID-19 Crisis

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced that on the 22nd, it signed a "Business Agreement for Discovering Innovative Growth Companies and Financial Support in Response to Post-COVID-19" with Woori Bank at Woori Bank's headquarters in Hoehyeon-dong, Jung-gu, Seoul.

Through this agreement, both institutions will utilize their respective capabilities to establish a joint response system in investment and financing sectors in preparation for the post-COVID-19 era, actively cooperating to support the rapid recovery and growth of innovative growth companies. The target companies for support include those requiring proactive social assistance such as ▲innovative growth companies affected by COVID-19 ▲companies engaged in the bio industry ▲companies providing non-face-to-face and online services ▲companies in innovative growth sectors.

Kibo and Woori Bank will mutually recommend innovative companies with high growth potential for joint discovery, share investment information, and support guarantees and follow-up investments. Innovative growth companies recommended by Kibo will receive investment and credit support from Woori Bank, and for innovative growth companies invested in by Woori Bank, Kibo will actively support investment-linked guarantees.

The "investment-linked guarantee" supported by Kibo is a preferential guarantee product that supplies additional funds necessary for technology development and commercialization to small and medium-sized enterprises (SMEs) that have attracted private investment, supporting the 'scale-up' of SMEs. Director Baek Kyung-ho of Kibo stated, "Through collaboration with Woori Bank, Kibo will do its best to proactively respond to the post-COVID-19 era and lead government policies promoting the great transition to a digital economy."

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