Kibo Launches Support for ESG Patent Technology IP Financing
Patent Office and Industrial Bank of Korea Sign Business Agreement
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 21st that it has signed a 'Business Agreement for Financial Support for Commercialization of E (Environment) Patent Technology to Expand ESG Management of Small and Medium Enterprises' with the Korean Intellectual Property Office and the Industrial Bank of Korea.
This agreement was established to build a mutual cooperation system among the three institutions to support the commercialization of ESG (Environment, Social, Governance) patent technology for small and medium enterprises, aiming to alleviate corporate burdens and contribute to the expansion of ESG IP finance.
According to the agreement, Kibo newly launched the 'ESG IP Evaluation Guarantee,' offering preferential reductions on guarantee fees, while the Korean Intellectual Property Office supports 60% of the technology evaluation fees as a government subsidy. The Industrial Bank of Korea supports 40% of the technology evaluation fees up to a limit of 1 billion KRW to minimize the burden on applying companies.
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The agreement product, 'ESG IP Evaluation Guarantee,' is a product that supports all funds required for the commercialization of patent technology in the environmental field. Kim Jong-ho, Chairman of Kibo, stated, "Kibo has newly prepared a commercialization financial support program based on patent value to support ESG management of small and medium enterprises, and through this, we will take the lead in supplying funds to the environmental sector, which is the most vulnerable among ESG fields for small and medium enterprises." He added, "We will continue to strengthen the ESG capabilities of public institutions themselves and expand support for ESG management of small and venture enterprises, thereby contributing to the transition to a carbon-neutral society and the development of the national economy."
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