Kibo Leads Social Value Realization Through Support for Busan's Specialized Industries
Busan Economic Promotion Agency and Busan Specialized Industry Startup Support Business Agreement
[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 signed a "Business Agreement for Supporting Startups in Busan's Specialized Industries" with the Busan Economic Promotion Agency at the Advanced Footwear Convergence Hub Center located in Gamjeon-dong, Busan, to revitalize startups in specialized local industries such as the footwear industry.
According to the agreement, when the Promotion Agency recommends startup companies possessing excellent technology in Busan's specialized industries to Kibo, Kibo will provide free education necessary for startups through the Venture Startup Classroom and offer one-stop services including startup funding support and consulting through dedicated startup programs.
Kibo has been operating the Venture Startup Classroom since 2001 to support the successful startup and stable business foundation of prospective and early-stage entrepreneurs, producing a total of 4,941 graduates to date. Additionally, to address the difficulties prospective entrepreneurs face in securing startup funds during the preparation phase, which often leads to giving up on starting a business, Kibo introduced a support system for prospective entrepreneurs in 2013, helping approximately 7,000 people succeed in starting their businesses.
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Through this agreement, Kibo expects to support successful startups in specialized industries located in Busan, such as the footwear industry and marine and shipbuilding sectors, create quality jobs, and realize social value by purchasing products from startup companies and linking this to support for vulnerable groups. Director Baek Kyung-ho of Kibo stated, "Through supporting startups in Busan's specialized industries, Kibo will fulfill its public mission as a public institution located in the provinces by leading regional balanced development and realizing social values such as revitalizing the local economy and creating jobs."
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