Gibo Launches Guarantee Product to Support Scale-up of Climate Tech Companies

Expansion of Support in Climate and Environmental Fields through Preferential Guarantees
Leading the Transition to Carbon Neutrality

The Korea Technology Finance Corporation (Chairman Kim Jong-ho) announced on the 29th that it has launched the 'Climate Tech Company Preferential Guarantee' product to support the innovative growth of climate tech companies expected to reduce carbon emissions and create high added value.

This preferential guarantee was prepared to respond to the government's climate tech industry promotion policy for achieving carbon neutrality and to expand support for small and medium-sized enterprises to meet national greenhouse gas reduction targets. In line with the government's related industry promotion strategy, Kibo decided to launch the climate tech company preferential guarantee product and enhance existing products to provide efficient guarantee support.

Kibo plans to offer significantly expanded preferential benefits compared to existing guarantee products to climate tech companies that develop or commercialize climate change response technologies, including ▲increased guarantee ratio (85% → 95%) ▲reduced guarantee fee rate (0.2 percentage points) ▲special exceptions in calculating working capital guarantee amounts.

Previously, Kibo proactively responded to the climate crisis by introducing the Climate Technology Evaluation Model (CTRS) in 2017 and has supported the carbon-neutral transition of small and medium-sized ventures through carbon value evaluation, which converts companies' greenhouse gas reduction amounts into monetary value. As of the end of last year, Kibo achieved results by newly supplying more than 1 trillion KRW annually in guarantees in the climate tech and environmental sectors, including 111.8 billion KRW in renewable energy guarantees and 500.7 billion KRW in carbon value evaluation guarantees.

Lee Jae-pil, Director of Kibo, said, "The climate tech industry has high growth potential but requires a lot of time and funds from initial development to commercialization. Through this preferential guarantee, Kibo will expand financial support so that promising climate tech companies can scale up and actively fulfill its role as a leading institution in green finance."

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