Gibo and Seongnam City Sign Business Agreement for Financial Support of Tech Startup Companies
Support Linkage for Technology SMEs within 7 Years of Startup in Seongnam-si
(From the left) Eun Soo-mi, Mayor of Seongnam, and Jung Yoon-mo, Chairman of the Korea Technology Finance Corporation, are posing for a commemorative photo after the signing ceremony.
View original image[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 8th that it has signed a 'Financial Support Business Agreement for Fostering Technology Startup Companies in Seongnam City' with Seongnam City (Mayor Eun Soo-mi). This agreement was prepared to support the growth and innovative development of technology startup companies located in Seongnam City within seven years of establishment by linking financial and non-financial support.
Based on Seongnam City's special contribution fund of 400 million KRW, Kibo will provide preferential guarantees totaling 8 billion KRW, with a maximum limit of 500 million KRW per company, for technology startup companies located in Seongnam City through preferential measures such as ▲increasing the guarantee ratio (85%→100%) ▲reducing guarantee fees (by 0.2 percentage points) ▲partial relaxation of guarantee screening. Seongnam City plans to discover small and medium-sized venture companies with excellent technological capabilities and support the innovative growth of technology startup companies in connection with the Seongnam Industry Promotion Agency's policy projects.
Meanwhile, Kibo is taking the lead in actively supporting the activation of technology startups by introducing the 'Youth Tech Star Guarantee,' which preferentially supports youth startup companies with outstanding technology and business potential, and preparing a guarantee limit expansion program to support the scale-up of innovative companies through technology evaluation.
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Chairman Jung Yoon-mo of Kibo said, "Through this agreement, Seongnam City's policies to activate technology startups and support scale-up can be well connected with Kibo's guarantee support," and added, "We hope that Kibo can play an active role in Seongnam City's technology innovation SME support policies."
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