Ministry of Industry Announces Technology Finance Support Program for SMEs

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Ministry of Trade, Industry and Energy announced on the 8th the launch of a technology finance support project targeting small and medium-sized enterprises (SMEs) with excellent technological capabilities but insufficient collateral, and began accepting applications.

This project supports the costs of technology evaluations for SMEs and mid-sized companies with excellent technological capabilities but lacking collateral, to facilitate investment attraction and issuance of loan guarantees. Depending on the purpose and use of the technology evaluation, ▲ 25 million KRW will be supported for a total of 250 cases of investment-purpose technology evaluations at 1.5 million KRW per case, and ▲ 15 million KRW will be supported for a total of 150 cases of guarantee-purpose technology evaluations at 5 million KRW per case.

It plans to support excellent technology-holding companies that have completed technology evaluations to hold investment attraction briefings targeting venture capital and other investment institutions.

The Ministry of Trade, Industry and Energy will continue to provide support and management to ensure that the technology evaluation cost support leads to actual investment and technology commercialization.

For companies that have completed investment-purpose technology evaluations, online and offline investment attraction briefings will be held in the first half of this year to revitalize investment attraction. The 'Technology Evaluation Practical Guide,' which serves as the evaluation guideline for technology evaluation institutions, will be continuously updated, and programs to strengthen the capabilities of evaluation institutions and personnel will be operated starting this quarter.

Kim Sangmo, Director of Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy, emphasized, "We urge technology innovation companies in need of commercialization funding to actively apply for this technology finance support project," adding, "To vitalize technology finance, a core area of movable property finance, we will expand various types of technology finance support projects along with revitalizing the technology evaluation market."

For more details, please visit the Ministry of Trade, Industry and Energy website or the Korea Institute for Advancement of Technology website.

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