Korea Credit Guarantee Fund Signs "Advanced Strategic Industry Financial Support" Agreement with Woori Bank

The Korea Credit Guarantee Fund announced on October 13 that it has signed a financial support agreement with Woori Bank to expand productive finance in the advanced strategic industry sector.

The two institutions plan to cooperate to support smooth funding for small and medium-sized enterprises (SMEs) in advanced strategic industries such as artificial intelligence (AI), and to reduce their financial burdens.

Woori Bank will contribute a total of 6 billion won to the fund (4 billion won as a special contribution and 2 billion won as a guarantee fee support fund), and the Korea Credit Guarantee Fund will use this as a resource to provide guarantees totaling approximately 210 billion won.

The support targets include: companies operating in advanced strategic industries and other new growth engine sectors; export companies and those expanding overseas; promising startups; companies returning to Korea; and companies registered with the Korea SME Technology Market.

The Korea Credit Guarantee Fund will apply a 100% guarantee ratio for three years to companies eligible for the special contribution agreement guarantee, and offer a 0.2 percentage point reduction in guarantee fees. Through the guarantee fee support agreement, a 0.5 percentage point guarantee fee will be supported for three years.

A representative from the Korea Credit Guarantee Fund stated, "This agreement will strengthen the growth foundation for SMEs in the advanced strategic industry sector. We will continue to expand cooperation with related organizations to help create new growth engines for the Korean economy."

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