Establishing a Four-Party Collaboration System for SME Innovation Growth

Jungjingong-Kibo-Woori Bank-Woori Venture Partners Four Organizations Business Agreement

On the 5th, the Small and Medium Business Corporation announced that it signed a 'Business Agreement to Establish a Collaborative System for the Innovative Growth of Small and Medium Venture Businesses' together with the Korea Technology Finance Corporation, Woori Bank, and Woori Venture Partners.

This agreement was prepared to support the innovative growth of companies by jointly promoting the discovery and nurturing of promising small and medium venture businesses through cooperation among four institutions: the Small and Medium Business Corporation, Korea Technology Finance Corporation, Woori Bank, and Woori Venture Partners.

The signatory institutions agreed to cooperate in areas including ▲ collaborative finance such as investment, loans, and guarantees ▲ promotion of exports and overseas expansion ▲ and other support projects for small and medium venture businesses.

Kang Seok-jin, Chairman of the Korea SMEs and Startups Agency (second from the left), is taking a commemorative photo after signing the "Business Agreement for Establishing a Collaborative System for Innovative Growth of SMEs and Ventures" held on the 5th. From the left, Kim Jong-ho, Chairman of the Korea Credit Guarantee Fund; Kang Seok-jin, Chairman of the Korea SMEs and Startups Agency; Cho Byung-kyu, President of Woori Bank; Kim Chang-gyu, CEO of Woori Ventures Partners.

The Small and Medium Business Corporation will discover promising small and medium venture businesses in the field of innovative growth and recommend them to Woori Bank, while the Korea Technology Finance Corporation will provide preferential guarantees such as reduced guarantee fees based on Woori Bank’s contributed funds.

Additionally, Woori Bank will offer preferential benefits such as favorable exchange rates and foreign exchange fees to export business participants recommended by the Small and Medium Business Corporation, and Woori Venture Partners will support mentoring for companies receiving investment and loan support from the Small and Medium Business Corporation by utilizing its network.

Each institution plans to leverage this agreement to alleviate the financial burden and improve funding conditions for small and medium venture businesses, thereby driving their innovative growth.

Kang Seok-jin, Chairman of the Small and Medium Business Corporation, stated, “We expect this collaboration between policy finance and private financial institutions to serve as a foundation for the innovative growth and accelerated global expansion of small and medium venture businesses,” and added, “We will continue to strive to develop collaborative models among institutions.”

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