Sh Suhyup Bank and Korea Technology Finance Corporation Join Hands to Support SME Financing

Kang Sin-suk, President of Suhyup Bank (left), and Kim Jong-ho, Chairman of the Korea Technology Finance Corporation.

[Asia Economy Reporter Buaeri] Sh Suhyup Bank announced on the 26th that it has signed a business agreement with the Korea Technology Finance Corporation to contribute a special fund for supporting small and medium-sized enterprises (SMEs) finance.

According to this agreement, Suhyup Bank will make a special contribution of 6 billion KRW to the Korea Technology Finance Corporation, which plans to support a total of 120 billion KRW in preferential guarantees to SMEs such as new technology businesses through the 'Special Contribution Agreement Guarantee.'

Suhyup Bank plans to apply a 100% guarantee ratio to minimize the financial burden on companies selected as support targets.

Kang Shin-sook, President of Suhyup Bank, said, "We are now able to support new technology SMEs that will lead Korea's advanced and strategic industries," adding, "Suhyup Bank will continue to strive for the sustainable growth of our country's economy."

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