IBK Industrial Bank, Invests 60 Billion KRW in Technology Innovation Solidarity and Cooperation Fund
Intangible Assets-Based Support for Technology Innovation Companies (TCB, IP, etc.)... Loan Support Worth 600 Billion KRW
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 26th that it will sign a "Technology Innovation Solidarity and Cooperation Fund Establishment and Technology Innovation Specialized Loan Agreement" at Lotte Hotel in Sogong-dong, Seoul, to secure industrial technology competitiveness and revitalize the industrial ecosystem.
The agreement, hosted by the Ministry of Trade, Industry and Energy, includes participation from IBK Industrial Bank, Shinhan Bank, Korea Technology Finance Corporation, Korea Growth Investment Corporation, Korea Institute for Advancement of Technology, Korea Industrial Technology Promotion Association, and Korea Energy Technology Evaluation Institute.
Through this agreement, IBK Industrial Bank will invest 60 billion KRW in the Technology Innovation Solidarity and Cooperation Fund to support the creation of ecosystems in future growth sectors such as future vehicles and secondary batteries. Additionally, it will provide loans worth 600 billion KRW by utilizing technology credit evaluations (TCB) and intellectual property rights (IP) held by technology innovation companies.
As the dedicated bank for the Ministry of Trade, Industry and Energy's "Industrial Technology R&D Fund," IBK Industrial Bank has efficiently managed industrial technology funds and consistently supported the growth of technology innovation companies since 2013.
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President Yoon Jong-won stated, "It is the duty of a policy bank to help innovative companies with technological capabilities continue their technology development without being shaken by financial difficulties," adding, "We will support innovative companies to grow into enterprises that lead the national industry."
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