IBK-Research & Development Special Zone Promotion Foundation, Business Agreement to Support Startup Companies

Opening 'IBK ChangGong' in Daejeon in the Second Half of 2021 to Support Growth of Technology-Based Startups

The photo shows Yoon Jong-won, President of IBK Industrial Bank of Korea (right), and Yang Seong-gwang, Chairman of the Research and Development Special Zone Promotion Foundation (left), posing for a commemorative photo at the agreement ceremony held on the 20th at the IBK Industrial Bank of Korea headquarters in Jung-gu, Seoul. Photo by [Photographer's Name]

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 22nd that it signed a business agreement with the Korea Institute for Advancement of Technology at the IBK headquarters in Jung-gu, Seoul, to discover and support the growth of innovative startup companies.

Through this agreement, IBK plans to open 'IBK Changgong' at the Science Center scheduled to be completed in the Daedeok Special Zone in the second half of next year. This will be the fourth Changgong location following Mapo, Guro, and Busan.

The two organizations will provide 'IBK Changgong' companies with financial support such as investment and loans, office space, demo days for attracting investment, domestic and international market development, technical mentoring, and technology commercialization education.

An IBK official stated, "We plan to create an ecosystem where technology-based innovative startups can grow by leveraging the know-how accumulated through operating 'IBK Changgong.'"

IBK Changgong is a startup incubation program that supports innovative startups with various financial and non-financial services. From December 2017 to October this year, it has provided financial services such as investment and loans totaling 163 billion KRW and non-financial services including mentoring, consulting, and IR a total of 3,087 times to 243 nurtured companies.

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