Technology Guarantee Fund Partners with KB Kookmin and Hana Bank to Support Social Venture Growth
23 Billion Won in Guarantee Fee Support Agreements
Partner Banks to Cover Guarantee Fees for Three Years
The Technology Guarantee Fund announced on September 29 that it has signed a "Financial Support Business Agreement for Fostering Social Ventures and Promoting the Growth of the Social Solidarity Economy" with KB Kookmin Bank and Hana Bank.
This agreement was established to support the stable growth of social venture companies and address financial challenges by facilitating collaboration between policy financial institutions and private financial institutions.
The Technology Guarantee Fund will provide guarantee fee support agreements totaling 23 billion won, based on guarantee fee support funds from KB Kookmin Bank (400 million won) and Hana Bank (100 million won). The partner banks will support guarantee fees (0.8 percentage points) for up to three years. The support is available to companies that the Technology Guarantee Fund has identified as social ventures.
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Kim Joungho, Chairman of the Technology Guarantee Fund, stated, "As a dedicated support institution for social venture companies, we will continue to back the stable growth of social ventures and take the lead in realizing social value."
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