Agreement on Support for Regional Balanced New Deal between Gibo and Gyeongsangbuk-do

Establishing a Comprehensive Support System for Fostering Regional Key Industries in Collaboration with Related Organizations

(From left) Jeon Chang-rok, Director of Gyeongsangbuk-do Economic Promotion Agency; Moon Chung-do, Chairman of Gyeongsangbuk-do Chamber of Commerce and Industry Council; Lee Cheol-woo, Governor of Gyeongsangbuk-do; Jung Yoon-mo, President of Korea Technology Finance Corporation; Kim Han-sik, Commissioner of Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration; Ha In-seong, Director of Gyeongbuk Technopark, are taking a commemorative photo after the signing ceremony at the Saemaeul Hall in Yeongdeok-gun.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jeong Yun-mo, hereinafter referred to as Kibo) announced on the 15th that it signed a 'Gyeongbuk Innovation Small and Medium Enterprise Future Connection Financial Support Business Agreement for Fostering Gyeongsangbuk-do Regional Key Industries and Overcoming COVID-19 Damage' with Gyeongsangbuk-do, Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration, Gyeongsangbuk-do Chamber of Commerce and Industry Council, Gyeongbuk Technopark, and Gyeongsangbuk-do Economic Promotion Agency.

This agreement was prepared to establish a comprehensive support system linking local governments, public institutions, and related regional organizations for regional balanced development through the success of the Gyeongsangbuk-do regional balanced New Deal project. Based on a special contribution fund of 5 billion KRW from Gyeongsangbuk-do, Kibo will provide preferential measures such as ▲increasing the guarantee ratio (85%→100%) ▲reducing guarantee fees (0.2 percentage points↓) ▲partial relaxation of guarantee screening to regional balanced New Deal companies, Korean New Deal companies, and COVID-19 affected companies located in Gyeongsangbuk-do, supporting preferential guarantees totaling 100 billion KRW with a maximum limit of 500 million KRW per company.

Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration, Gyeongbuk Chamber of Commerce, Gyeongbuk Technopark, and Gyeongsangbuk-do Economic Promotion Agency plan to discover small and medium venture companies with excellent technology in the Gyeongbuk region and support innovative growth by linking government and independent support projects.

Chairman Jeong Yun-mo of Kibo said, "This agreement is a pioneering case where a local government directly contributes funds to Kibo to support the regional balanced New Deal," adding, "Kibo will continue to actively support the success of the regional balanced New Deal project and the innovative growth of regional technology small and medium enterprises through agreements with more local governments."

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