Kibo to Provide 1.6 Trillion Won Preferential Guarantees for 1 Year to Non-Face-to-Face and Digital Companies

Driving Innovative Growth of Non-Face-to-Face and Digital Companies Amid COVID-19

[Asia Economy Reporter Kim Cheolhyun] The Korea Technology Finance Corporation (Chairman Jung Yunmo, hereinafter referred to as Kibo) announced on the 26th that its preferential guarantee program for non-face-to-face and digital companies (hereinafter referred to as the preferential guarantee), which is a key initiative for the transition to a digital economy, has shown excellent results in job creation and sales growth.

Kibo introduced the preferential guarantee in July last year and supported guarantees worth 1.5755 trillion KRW for over 4,000 companies over one year until June this year. This program has been incorporated into the government's Digital New Deal policy, with plans to support a total of 5.5 trillion KRW by 2025.

Analysis of the support outcomes of this preferential guarantee showed that the proportion of companies with increased sales was higher compared to general guarantees, and notably, the job creation effect was 2.1 times greater. For example, Kibo evaluated the technology and growth potential of the venture company Amosense, which manufactures next-generation electronic components, and provided a preferential guarantee of 1.5 billion KRW. Subsequently, the company commercialized its R&D projects, obtained world-class product certification for its main products in December last year, and achieved a listing on KOSDAQ in June this year.

Additionally, Jointree, a customized software (SW) development company, received 950 million KRW in preferential guarantees from Kibo and hired personnel necessary for developing an Internet of Things (IoT)-based platform. The number of employees increased from 128 in 2019 to 262 in 2020, creating more than double the employment.

Based on these achievements, Kibo recently decided to expand support by adding up to 75 million KRW per newly hired ICT personnel within the last six months, and up to 500 million KRW per company, to the guarantee limit for companies that have newly hired ICT personnel.

Chairman Jung Yunmo of Kibo stated, "Kibo is focusing on expanding necessary financial support for technology development, hiring technical personnel, and commercialization in the non-face-to-face and digital sectors, which are core growth engines for advancing to a leading economy," and added, "We will continue to strengthen customized support systems to back not only the Digital New Deal but also human-centered New Deal policies such as job creation."

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