Shinbo, 1.2 Trillion Won Agreement Guarantee for SME Financing

The Korea Credit Guarantee Fund (KODIT) announced on the 26th that it will implement approximately KRW 1.2 trillion in agreement guarantees, funded by a total bank contribution of KRW 35 billion (special contribution of KRW 26.5 billion and guarantee fee support of KRW 8.5 billion), to enhance the competitiveness of small and medium-sized enterprises (SMEs) and alleviate their financial cost burdens.

On the same day, KODIT signed a "Financial Support Agreement for SMEs Leading the Dynamic Economy" with Kookmin Bank, Woori Bank, and Hana Bank, and a "Financial Support Agreement for Companies Engaged in National Advanced Strategic Industries and SMEs Leading the Dynamic Economy" with Shinhan Bank. The agreement guarantee support targets include ▲companies engaged in new growth engine industries ▲promising startups ▲export companies ▲job-creating companies ▲venture companies, among others.

KODIT will apply a 100% guarantee ratio for three years to companies eligible for the special contribution agreement guarantees and provide a 0.2 percentage point (p) discount on guarantee fees. Additionally, through guarantee fee support agreement guarantees, it plans to support a 0.5 percentage point guarantee fee reduction to ease the financial cost burden on SMEs.

A KODIT official stated, "Through this agreement, we plan to actively support policy financing to ensure smooth funding for SMEs leading the dynamic economy," adding, "KODIT will continue to do its best to enhance the competitiveness of SMEs and revitalize the national economy."

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