Gibo Technology Valuation to Be Used for Resolving Technology Disputes in SMEs

Agreement on Technical Dispute Support between Large, Medium, and Small Enterprises and the Foundation for Agriculture, Fisheries, and Cooperation

Juseon Park, Director of the Korea Technology Finance Corporation (right), and Guik Lee, Head of the Foundation for Innovation in Small and Medium Agriculture, Fisheries, and Livestock, are posing for a commemorative photo after signing the agreement.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 29th that it has signed a business agreement with the Foundation for Large and Small Enterprises and Agricultural and Fisheries Cooperation to support the resolution of corporate technology disputes through mediation and arbitration and to promote technology commercialization.

This business agreement was promoted to establish a close cooperative system between Kibo and the Foundation, reflecting technology value evaluation in corporate technology disputes to secure objectivity and present reasonable mediation and arbitration proposals.

Based on its technology evaluation capabilities, Kibo is promoting the innovative growth of small and medium-sized enterprises (SMEs) with excellent technologies through technology finance, technology transactions, and protection, while the Foundation supports smooth and prompt dispute resolution between parties in the SME Technology Dispute Mediation and Arbitration Committee.

Through this agreement, Kibo will provide fair and objective technology value evaluations for disputed technologies to SMEs experiencing difficulties in technology disputes, and the Foundation will actively reflect these evaluations, thereby helping SMEs resolve technology disputes.

Additionally, this agreement includes ▲ cooperation in technology evaluation tasks and related information exchange ▲ connecting technology demanders and suppliers through technology evaluation ▲ linked support for technology evaluation and technology transactions ▲ other information exchanges and mutual promotion of each institution’s projects.

Kim Jong-ho, Chairman of Kibo, stated, "Through this agreement between the two institutions, we expect to create a synergy effect in resolving technology disputes for SMEs," adding, "Kibo will do its best to make this agreement a model case that practically helps resolve technology disputes for SMEs."

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