Kibo Establishes 'Happy Workplace Maintenance Guarantee' to Ensure Employment Stability for Technology Innovation Companies

Customized Program Developed to Protect Workers' Workplaces and Prevent Loss of Excellent Technology Owners

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 19th that it has implemented the 'Happy Workplace Retention Guarantee,' an employment retention guarantee program, to support employment stability for technology innovation companies struggling due to the resurgence of the novel coronavirus infection (COVID-19).

Since April, Kibo has supported new guarantees worth 400 billion KRW through the 'Startup and Venture Company COVID-19 Special Guarantee' to stabilize employment for startups and venture companies affected by COVID-19. The Happy Workplace Retention Guarantee is a newly established guarantee program designed to continuously provide additional funds necessary for employment retention, considering the ongoing difficult employment situation and the importance of employment stability for technology innovation companies.

Employers can receive additional support of up to 300 million KRW regardless of the amount of guarantee already provided, based on the scale of employment. Priority support is given to companies applying for employment retention, companies located in employment crisis or employment disaster areas, and social enterprises. Kibo plans to support guarantees for companies that commit to maintaining employment for the next year by applying preferential conditions such as increasing the guarantee ratio up to 95%, reducing the guarantee fee by 0.3 percentage points, and relaxing screening criteria and approval authority, enabling employers to maintain workers' employment through 2021.

Kim Young-choon, a director at Kibo, stated, "In a situation where employment sluggishness continues due to the prolonged COVID-19 pandemic and base effects, policy support to alleviate the management burden of technology innovation companies and to resolve workers' employment anxiety is urgently needed," adding, "In the COVID-19 pandemic situation, we will go beyond support focused on job creation to actively support employment retention to protect workers' happy workplaces and prevent the core technologies of technology innovation companies from being lost, striving to wisely overcome these difficult times."

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