Gyeonggi-do Extends Special Guarantee for Content Companies by 2 Years Until 2025

Gyeonggi Provincial Government Gwanggyo New Office Building

Gyeonggi Province will extend the implementation of the Special Guarantee Program for Content Companies from June this year to June 2025, extending it by two years.

The Special Guarantee for Content Companies is a system that supports guarantees to help small content companies with innovative ideas and business potential but difficulty securing funds to obtain loans from financial institutions.

Since 2010, the province has been operating the special guarantee program for content companies in collaboration with local city and county governments, the Gyeonggi Content Agency, and the Gyeonggi Credit Guarantee Foundation to support content companies in the province that face difficulties in financing due to lack of collateral despite having business potential.

During the first agreement period (2010?2016), the province provided guarantee support of 12.2 billion KRW to 241 companies, and during the second agreement period (2016?2019), it supported 31 billion KRW to 730 companies.

Through the third special guarantee for content companies, from 2019 to March this year, the province has supported guarantees worth 26.3 billion KRW for 638 companies. Along with the extension of the agreement period, the participation target has been expanded to a total of 25 cities and counties by signing a new agreement with Yeoncheon-gun.

The guarantee scale will be increased by 4.1 billion KRW this year by expanding the guarantee amount for cities and counties with a high guarantee limit utilization rate.

The third special guarantee for content companies provides full guarantee coverage (100% guarantee ratio) up to a maximum of 500 million KRW per company, with a repayment period of five years. Companies wishing to receive funding support can inquire and apply through the Cyber Guarantee Center on the Gyeonggi Credit Guarantee Foundation website or at the foundation’s branches (representative number 1577-5900).

Oh Gwang-seok, Director of the Content Industry Division of the province, said, "I hope that excellent content companies in Gyeonggi Province will not face difficulties securing business funds amid the prolonged economic downturn," and added, "We will strive to be a strong support for the independence and growth of content companies, strengthening the competitiveness of the local content industry and revitalizing the regional economy."

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