Kibo Signs Business Agreement with K-Bank, the First Internet-Only Bank

Proactive Response to Digital and Contactless Finance in the Post-Corona Era

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 31st that it has signed a business agreement with K Bank (President Lee Moon-hwan), the first internet-only bank, to establish a financial support platform for digital and non-face-to-face activation.

Through this agreement, it is expected that Kibo, a specialized institution for technology evaluation of technology innovation companies, and K Bank, which has accelerated growth by recently launching various credit loan products, will create synergy through corporate loan linkage. Since November 2018, Kibo has introduced the One-Click Guarantee system, a non-face-to-face guarantee product that allows customers to receive loans in a one-stop manner without visiting guarantee institutions or bank branches. The One-Click Guarantee system this year has played a significant role on the ground in special guarantees to help companies affected by the novel coronavirus infection (COVID-19) overcome crises, and has received positive responses from customers due to its prompt guarantees.

Jung Yoon-mo, Chairman of Kibo, said, "I hope that internet-only banks will successfully settle in, accelerating financial innovation using fintech and enhancing the potential and competitiveness of the financial industry." He added, "In line with the post-COVID-19 era, I hope that the business linkage between Kibo, which leads technology finance, and K Bank, an internet-only bank equipped with innovative financial services using fintech, will serve as an opportunity to drastically lower the barriers for innovative startup companies to use guarantees."

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