Kibo Signs Business Agreement with Daegu City, Daegyeong Small and Medium Business Administration, and Daegu Bank

KRW 200 Billion Agreement Guarantee and Linked Support for Daegu City Business Stabilization Fund

From the left, Han-sik Kim, Commissioner of Daegu-Gyeongbuk Regional Small and Medium Business Administration, Ui-rak Hong, Deputy Mayor for Economic Affairs of Daegu Metropolitan City, Tae-o Kim, President of Daegu Bank, and Yoon-mo Jung, Chairman of Korea Technology Finance Corporation, are holding the agreement and taking a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 7th that it signed the 'Daegu City Public-Private Cooperation Industrial Advancement Support Business Agreement' with Daegu Metropolitan City, Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration, and Daegu Bank.

Kibo explained that this agreement is significant not only for expanding funding supply to technology SMEs but also for establishing a cooperative system to support industrial advancement through public-private collaboration. Kibo, Daegu City, and Daegu Bank will actively establish a funding support base based on the agreement guarantee, while the Daegu-Gyeongbuk SME Administration will take the lead in stabilizing management and advancing industries of technology SMEs through government policy-linked support.

According to the agreement, Kibo will cooperate with Daegu Bank to provide preferential measures such as ▲increasing the guarantee ratio (85%→100%) ▲reducing guarantee fees (0.2%p↓) ▲expanding special consideration amounts (100 million KRW→200 million KRW), supporting agreement guarantees totaling 200 billion KRW with a maximum limit of 1 billion KRW per company. Daegu City also plans to contribute to alleviating the financial difficulties of technology SMEs by providing linked management stabilization funds to companies eligible for the agreement guarantee located in Daegu.

Kibo introduced the 'COVID-19 Special Guarantee' in February to help companies affected by COVID-19 overcome management crises, and since then, based on government contributions through supplementary budgets, it has completed applications for the targeted 1.505 trillion KRW, actively supporting technology SMEs. Chairman Jung Yoon-mo of Kibo emphasized, "This agreement is expected to serve as an opportunity to drive rapid funding support and innovative growth for technology SMEs and to establish a platform preparing for the post-COVID-19 era," adding, "Kibo will continue to make active efforts to support more guarantees for technology SMEs."

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