Daegu City Provides 100 Billion KRW Preferential Guarantees to SMEs ... Kibo and Ministry of SMEs and Startups Sign Business Agreement

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] On the morning of the 11th, Daegu City held a business agreement ceremony for 'Win-Win Financial Support' to support corporate technology guarantees at City Hall, attended by Mayor Kwon Young-jin, Deputy Minister Kang Seong-cheon of the Ministry of SMEs and Startups, and Chairman Jeong Yun-mo of the Korea Technology Finance Corporation (Kibo).

According to this agreement, Daegu City will contribute 5 billion KRW as corporate guarantee funds to Kibo, which will provide preferential guarantees worth a total of 100 billion KRW to target companies. The Ministry of SMEs and Startups will support the innovative growth of local SMEs through policy support such as establishing support policies and building win-win cooperation models.

The support targets are technology innovation-leading companies located in Daegu City, companies engaged in automobile parts manufacturing, and companies affected by COVID-19. Preferential guarantee terms such as a guarantee limit of up to 1 billion KRW per company, a 100% guarantee ratio (up to 90% for over 3 years), and a 0.2% reduction in guarantee fees will be applied, allowing support for up to 5 years.

Companies can minimize financial burdens by receiving loan interest support ranging from 1.3% to 2.2% for one year through linked support with Daegu City's management stabilization fund interest subsidy, enabling timely securing of working capital and strengthening the foundation for corporate growth.

Companies wishing to receive the special guarantee for win-win financial support for technology SMEs can apply by visiting the nearest Korea Technology Finance Corporation branch from the 11th.

Mayor Kwon Young-jin of Daegu said, "With the guarantee support from the Korea Technology Finance Corporation, companies engaged in key industries such as automobile parts and textile fashion, as well as companies with excellent technology, will be able to smoothly finance funds," and emphasized, "We will continue to promote various corporate support policies so that local SMEs can overcome the COVID crisis and leap forward as strong technology companies."

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