Korea Development Bank Provides 2 Trillion Won Support to New Industry Innovation Companies Last Year
[Asia Economy Reporter Jin-ho Kim] The Korea Development Bank announced on the 10th that it supported 2 trillion won last year to innovative new industry companies with high chances of success.
Last year, the bank focused on providing facility loans and combined investment and loan financing to innovative companies in the digital and green sectors. Investments were concentrated in knowledge services (platforms, content), advanced manufacturing and automation (hydrogen and electric vehicles, aerospace), and energy and environment (secondary batteries, hydrogen fuel cells, waste resource energy).
The support method mainly consisted of large facility loans and combined investment and loan financing to these innovative companies. A bank official explained, "We will actively expand financial support for innovative new industry companies using the new industry evaluation system going forward."
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Meanwhile, the bank introduced the ‘New Industry Innovative Company Evaluation System’ in August 2018, which comprehensively analyzes the innovation of new technologies and business models as well as future growth potential for new industry innovative companies that face difficulties in receiving financial support through general evaluations due to financial disadvantages.
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