Kibo Signs MOU with Kookmin Bank, Wadiz, and Crowdy to Promote Crowdfunding Activation
Activation of Crowdfunding as a New Financing Method for Innovative Startup Companies
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 27th that it has signed a 'Business Agreement for the Activation of Crowdfunding' with Kookmin Bank, Wadiz, and Crowdy to support the activation of crowdfunding for innovative startup companies.
This agreement establishes a collaborative model among Kibo, Kookmin Bank, and crowdfunding intermediaries to enable innovative startup companies to experiment with and commercialize various innovative ideas through crowdfunding. Previously, in July, Kibo implemented a preferential guarantee for crowdfunding to help successful crowdfunding companies receive technology guarantees and grow. Through this agreement, Kibo plans to build a mutual cooperation system with Kookmin Bank, Wadiz, and Crowdy. Additionally, Kibo and Kookmin Bank agreed to provide preferential support for guarantees and loans to recommended companies, while crowdfunding intermediaries will cooperate to offer investment attraction opportunities to recommended companies.
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Kibo's 'Preferential Guarantee for Crowdfunding' targets securities-type crowdfunding companies that have succeeded in raising more than 50 million KRW through crowdfunding intermediaries within the past year and have achieved at least 80% of their investment target amount. Kim Young-chun, a director at Kibo, stated, "Crowdfunding utilizes the characteristic of collective intelligence to allow innovative startup companies to validate innovative ideas or technological capabilities, and it is a new method to raise necessary business funds from the general public, so activation is needed." He added, "Going forward, we will cooperate with intermediaries and banks to help innovative startup companies expand their growth base after crowdfunding success."
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