San: "Financial Support for Startups Using Data and Apps as Collateral"

"Serving as a Catalyst for Supporting Startups Without Tangible Assets"

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank is accelerating support for startup companies using the country's only 'data-collateralized' loans.

On the 6th, KDB Industrial Bank announced that through the 'Data-Based Innovative Company Special Fund,' it provided financial support to two startups in June this year, following support for two companies in December last year.

The startup Jjaekakak-eo received a loan of 2 billion KRW and an investment of 2 billion KRW in convertible redeemable preferred shares using the 'Parents and Teachers App and Database' as collateral, while Deholic Commerce secured a loan of 3 billion KRW using the 'Deholic Shopping App' as collateral. This is the first customized financial support in the domestic financial sector for innovative companies contributing to the creation of new markets and industries by utilizing data-based business models.

By providing loans at low interest rates secured by data assets and apps owned by companies, this can serve as a catalyst for financial support to startups and innovative companies that lack tangible assets such as real estate.

A KDB Industrial Bank official stated, "We will continue to play a leading role in strengthening the government's innovative financial functions and providing continuous support for innovation and venture finance."

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