Pohang Secondary Battery Specialized Complex Gains Corporate Support Wings! ... Financial Support Agreement

KDB Industrial Bank, Gyeongbuk Province & Pohang City Sign Financial Support MOU for Secondary Battery National Advanced Strategic Industry

Significance of Establishing Comprehensive Financial Program to Foster and Revitalize Secondary Battery Indu

On the 9th, Pohang City signed a business agreement at the Gyeongbuk Provincial Government Office for customized financial support at each growth stage to secure a national advanced strategic industry gap, between KDB Industrial Bank, Gyeongbuk Province, Pohang City, and Gumi City.

On the 9th, a business agreement was signed at the Gyeongbuk Provincial Government Office between KDB Industrial Bank, Gyeongbuk Province, Pohang City, and Gumi City to provide customized financial support at each growth stage to secure a national advanced strategic industry gap. (From left: Lee Kang-deok, Mayor of Pohang; Lee Cheol-woo, Governor of Gyeongbuk Province; Kang Seok-hoon, Chairman of Industrial Bank; Kim Jang-ho, Mayor of Gumi)

About 20 officials attended the signing ceremony, including Lee Cheol-woo, Governor of Gyeongbuk Province, Lee Kang-deok, Mayor of Pohang, Kim Jang-ho, Mayor of Gumi, and Kang Seok-hoon, Chairman of Industrial Bank, promising mutual cooperation for fostering national advanced strategic industries and companies through financial support.

KDB Industrial Bank will provide step-by-step support through its super-gap industry support platform, from R&D funds needed at the research and development stage to facility investment for production and export funding, to companies related to national advanced strategic industries such as secondary batteries and semiconductors.

For companies engaged in advanced industries, financial support will include up to 1.2%P interest rate discounts, expanded operating fund limits (120%), broad recognition of collateral value such as machinery, equipment, and data collateral, and long-term, low-interest funding for clients with low credit ratings, as well as providing optimal conditions for corporate activities such as industry-specific supply chain analysis data.

This agreement is expected to greatly contribute to strengthening the competitiveness of local secondary battery-related companies and easing the difficulties of companies that possess technology but face challenges in commercialization due to lack of funds.

It is also evaluated to be a great attraction for small and medium-sized enterprises newly settling in Pohang, and is expected to contribute to industrial revitalization through comprehensive financial support such as financial consulting and mediation when new industrial complexes are established.

Mayor Lee Kang-deok said, “I hope this business agreement will serve as a catalyst for smooth funding supply in the rapidly changing advanced strategic industry sector,” and added, “We will do our best so that Pohang and Gyeongbuk can lead Korea’s innovative industries together.”

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