Kibo Signs Win-Win Business Agreement with Samsung SDS and Industrial Bank of Korea to Support Exporting SMEs

Supporting Innovative Growth by Reducing Financial Costs for Exporting SMEs

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 20th that it has signed a 'Mutual Growth Financial Support Agreement for Exporting Small and Medium Enterprises' with Samsung SDS and the Industrial Bank of Korea to support the innovative growth of exporting SMEs. This agreement was prepared to prepare for the expansion of global trade in the post-COVID-19 era and to practice mutual growth between large corporations and SMEs.

Based on the guarantee fee support fund from Samsung SDS, Kibo will provide preferential guarantees totaling KRW 22.5 billion, including benefits such as ▲increased guarantee ratio (from 85% to over 90%) ▲guarantee fee reduction (up to 0.3 percentage points) ▲guarantee fee support (1.0 percentage point for 1 year) to exporting SMEs recommended among customers using Samsung SDS's export logistics platform. The Industrial Bank of Korea will exclusively handle the guaranteed loans and offer preferential interest rates to loan customers.

Chairman Kim Jong-ho of Kibo said, "Through this agreement, we hope to contribute to continuing the warmth of mutual growth between large corporations and SMEs even in the difficult economic environment caused by COVID-19," adding, "Kibo will actively support the innovative growth of exporting SMEs through proactive financial support and take the lead in overcoming the COVID-19 damage and revitalizing the Korean economy, which is highly dependent on exports."

This content was produced with the assistance of AI translation services.