Kibo Supports Young Talent Startups... Expansion of Guarantees for Youth Startup Companies

New 'Youth Tech Star Guarantee' Established Exclusively for High-Growth Potential Youth Startups

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 10th that it has expanded the support targets for youth startup company guarantees and established an exclusive "Youth Tech Star Guarantee" for excellent youth companies to spread the enthusiasm for entrepreneurship among young talents and revitalize the youth startup ecosystem.

Kibo introduced a preferential program exclusively for youth startup companies in 2011 and has supported guarantees worth approximately 3.942 trillion KRW to about 35,000 companies over 10 years until June this year. An analysis of supported companies over the past five years showed that 50% of the support was for companies within one year of establishment, indicating that the preferential program serves as "seed money" for early-stage youth startups.

Based on these achievements, Kibo expanded and restructured the youth startup company guarantee system by establishing preferential measures such as ▲ expanding support targets (from companies within 5 years of establishment to companies within 7 years of establishment) ▲ increasing guarantee ratio (from 85% to 95%) ▲ reducing guarantee fees (by 0.3%p), thereby building a customized support system tailored to each stage of startup development.

Additionally, to provide exclusive funding support for excellent youth startups participating in government startup support programs, Kibo established the "Youth Tech Star Guarantee" and introduced preferential support measures including ▲ expanded guarantee limit (600 million KRW) ▲ increased guarantee ratio (from 85% to 100%) ▲ application of a fixed guarantee fee rate of 0.3% (a decrease of 0.9%p compared to the average guarantee fee rate of 1.2%) ▲ expanded special calculation for guarantee amount (200 million KRW).

Chairman Jung Yoon-mo of Kibo stated, "Kibo is focusing on expanding support for youth startups with high growth potential, even if they have no sales or weak financial conditions, to encourage active and challenging entrepreneurship among young talents," and added, "We will continue to strengthen customized support systems for youth startups to spread the enthusiasm for youth entrepreneurship and continuously sustain the second venture boom."

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