Kwangju Bank Partners with Gwangju City and Korea Technology Finance Corporation for Financial Support Collaboration

Providing Substantial Financial Benefits to Companies in Gwangju's Core Industries

On June 25, Kwangju Bank announced that it had signed a "Financial Support Agreement for Overcoming Crises in Key Industries and Strengthening Export and Technological Competitiveness" with Gwangju Metropolitan City and Korea Technology Finance Corporation, aiming to expand financial support for small and medium-sized enterprises (SMEs) operating in the region's core industries.

This agreement is intended to ease the financial burden and facilitate smooth funding for SMEs engaged in Gwangju's key industries, such as materials, parts, and equipment sectors. The three organizations will establish a cooperative system to help these core industries overcome crises and to lay the foundation for strengthening export and technological competitiveness.

Under the agreement, Kwangju Bank will make a special contribution of 100 million won to support an annual guarantee fee of 0.5% for one year for the participating companies. Korea Technology Finance Corporation will use this fund to provide guarantee fee support agreements for guarantees of up to 20 billion won. Gwangju Metropolitan City will offer interest subsidies of 2.0% per annum for two years, enabling local companies to access funding under more favorable financial conditions.

Koh Byungil, CEO of Kwangju Bank, stated, "This agreement is significant as it represents a collaborative model among financial institutions, local governments, and public organizations to revitalize the regional economy. Kwangju Bank will continue to actively support the strengthening of the region's industrial base and the growth of SMEs."

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