Gibo to Provide 65 Trillion Won in Guarantee Support to Korean New Deal Companies by 2025

Establishing the 'Korean New Deal Technology Guarantee Support System' for Comprehensive Assistance

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter Kibo) announced on the 16th that it will significantly expand guarantee support by establishing the 'Korean New Deal Technology Guarantee Support System.'

According to the 'Korean New Deal Technology Guarantee Support System,' Kibo has set seven promotion directions and plans to supply a total of 65 trillion won in guarantees by 2025. The promotion directions include ▲expanding preferential guarantee support related to the New Deal ▲policy-linked support such as carbon neutrality ▲establishing a collaboration system with related organizations ▲advancing non-face-to-face guarantee support processes, and other execution plans that can effectively support the Korean New Deal projects.

Specifically, guarantee support will be strengthened around two pillars: Digital New Deal and Green New Deal. To support the Korean New Deal and enhance the completeness of national balanced development, safety net reinforcement and regional balanced New Deal will be added to activate support. Additionally, through collaboration with local governments, financial institutions, and related organizations, a regional New Deal agreement guarantee will be newly established to focus support on companies engaged in regional balanced New Deal-linked projects, including companies specialized in regulatory free zones and companies operating regional key industries.

Last year, Kibo proactively responded to the Korean New Deal by launching New Deal-related products such as non-face-to-face and digital enterprise preferential guarantees and green guarantees. Through the newly established support system, it is expected that more efficient guarantee support will be possible for New Deal companies by further strengthening linked support by New Deal sectors. Chairman Jung Yoon-mo of Kibo stated, "This support system was prepared to respond to the Korean New Deal policy and actively support small and medium-sized enterprises leading changes in the industrial ecosystem such as digitalization and carbon neutrality," adding, "Kibo will continue to prepare support measures to enhance the execution power of sector-specific policies for the success of the Korean New Deal and faithfully fulfill its role as a leading institution of the New Deal."

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