Shin Yong Bo Jeung Gi Geum Signs Business Agreement to Support Fintech Startups

One-Stop Financial and Non-Financial Support for Outstanding Startups

[Asia Economy Reporter Park Sun-mi] The Korea Credit Guarantee Fund and the Korea Fintech Support Center announced on the 31st that they have signed a 'Business Agreement to Support Fintech Startups.'

This agreement was established to jointly support outstanding startups in the fintech sector through mutual cooperation between the Credit Guarantee Fund and the Korea Fintech Support Center, coinciding with the launch of the innovative startup platform FRONT1.

The support targets fintech startups within seven years of establishment, including those residing in FRONT1. The selection of support recipients will be operated under a 'comprehensive negative list method' based on business feasibility evaluations.

The Credit Guarantee Fund will provide guarantees up to 300 million KRW based on the estimated required funds of the companies recommended by the Korea Fintech Support Center, applying preferential terms such as a 100% guarantee ratio and a fixed guarantee fee of 0.5%. The Korea Fintech Support Center will offer various non-financial programs to fintech startups recommended by the Credit Guarantee Fund.

A representative from the Credit Guarantee Fund stated, "Through this agreement, we can provide one-stop financial and non-financial services for fintech startups residing in FRONT1," adding, "We will continue to support fintech startups so they can sustain innovation."

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