Kibo and KB Kookmin Bank Launch Financial Support for R&D Company Growth

Up to 146.7 Billion KRW in Agreement-Based Guarantees
for R&D Companies in Future Strategic Industries

On July 21, the Korea Technology Finance Corporation (Kibo) announced that it had signed a financial support business agreement for "Korea's Real Growth" with KB Kookmin Bank, aimed at fostering future growth industries and establishing a foundation for sustainable development. This agreement was established to proactively support Korea's "real growth" through cooperation between the private and public sectors by nurturing future growth industries and creating a sustainable growth foundation.

Under the agreement, the two organizations will jointly support research and development (R&D) companies in technology-driven new industries such as artificial intelligence (AI), defense, bio, content, and energy, as well as in fields related to building a growth foundation for future generations, such as responding to the climate crisis. They plan to provide up to 146.7 billion KRW in agreement-based guarantees.

Jaepil Lee, Director of Kibo (left), and Yonghun Song, Vice President of KB Kookmin Bank Corporate Customer Group, are taking a commemorative photo after signing a business agreement. Photo by Kibo

First, Kibo will provide up to 80 billion KRW in special contribution agreement guarantees, funded by a special contribution of 4 billion KRW from KB Kookmin Bank. Kibo will offer preferential benefits such as raising the guarantee ratio from 85% to 100% for three years, and reducing guarantee fees by 0.2 percentage points for three years.

In addition, Kibo will supply 66.7 billion KRW in guarantee fee support agreement guarantees, based on 1 billion KRW in guarantee fee support funds from KB Kookmin Bank. KB Kookmin Bank will support guarantee fees by 0.5 percentage points for three years.

The support targets are R&D companies in the fields of AI and semiconductors; pharmaceuticals, bio, and healthcare (K-Food); automobiles, shipbuilding, defense (aerospace); Korean Wave, software, and cultural content; ESG, eco-friendly, carbon, and energy; and deep tech and fintech, among new technology businesses that meet Kibo's technology guarantee requirements.

Kim Jongho, Director of Kibo, stated, "Through this agreement, we have established a financial foundation to support the era of 'real growth' for the Korean economy by actively supporting the commercialization of R&D companies in future industries such as AI, defense, and cultural content." He added, "Kibo will continue to expand collaboration with financial institutions to support the development of future strategic industries and do our utmost to contribute to technology-driven growth."

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