Kibo and Kamco Join Hands to Support SME Recovery
Laying the Foundation for Successful Re-Startup and Leap Forward of Excellent Technology Small and Venture Companies
Kim Young-gap, Director of the Korea Technology Finance Corporation (right), and Kim Gui-su, Director of the Korea Asset Management 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 Kim Jong-ho, hereinafter referred to as Kibo) announced on the 9th that it has signed a "Business Agreement for Successful Reboot Support of Small and Medium Enterprises" with the Korea Asset Management Corporation (hereinafter referred to as KAMCO). This agreement was prepared to support the revitalization of reboots for small and medium venture companies with excellent technology by mutually linking the reboot support projects operated by both organizations.
According to the agreement, Kibo and KAMCO will cooperate to support Kibo's reboot support guarantees and KAMCO's business normalization programs respectively for small and medium enterprises wishing to make a fresh start, and will proceed with step-by-step cooperation procedures. In particular, they decided to focus support on companies within three years after the conclusion of rehabilitation procedures, whose business foundations are relatively weak, to help them achieve successful reboots.
Through this, it is expected that companies attempting a second challenge after experiencing failure once will receive timely financial support from both organizations, laying the groundwork for a successful reboot and preventing a second failure. It is also expected to provide an opportunity to change perceptions about failure.
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Kim Young-gap, Director of Kibo, said, "Through this agreement, public institutions have cooperated to establish a practical funding support plan so that reboot support companies do not fall into a second failure," adding, "We will continue to prepare various reboot support measures, including cooperation with other institutions and expanding Kibo's own reboot support programs."
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