KODIT and Hana Bank to Foster Key Enterprises in Gwangju and Honam Regions
Business Agreement Signed with Gwangju Metropolitan City, Gwangju Chamber of Commerce & Industry, and KIBO on March 16
Hana Bank to Contribute 3 Billion Won to KODIT
The Korea Credit Guarantee Fund (KODIT) is partnering with Hana Bank, Korea Technology Finance Corporation (KIBO), and others to support the development of key enterprises in the Gwangju and Honam regions. The initiative aims to enhance financial accessibility for local small and medium-sized enterprises (SMEs), discover companies with high growth potential, and ultimately revitalize the regional economy.
On March 16, KODIT announced that it had signed a financial business agreement at Gwangju City Hall with Hana Bank, Gwangju Metropolitan City, Gwangju Chamber of Commerce & Industry, and KIBO, to foster and support key enterprises in the Gwangju and Honam regions. The agreement is designed to nurture regional anchor companies by providing customized financial support to local SMEs and to strengthen the competitiveness of local industries. Under the agreement, Hana Bank will contribute a total of 3 billion won to KODIT—including 2 billion won as a special fund and 1 billion won as a guarantee fee support fund. Based on this, KODIT plans to supply guarantee support totaling 123 billion won. Eligible beneficiaries include SMEs in the Honam region that are engaged in new growth engine industries, export or overseas expansion, local-based industries, and those with high growth potential such as job-creating companies.
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Through the special contribution guarantee agreement, KODIT will apply a 100% guarantee ratio for three years and reduce the guarantee fee by 0.3 percentage points. For the guarantee fee support agreement, 0.6 percentage points of guarantee fees will be supported for two years, reducing the financial burden on companies. Gwangju Metropolitan City will provide interest support of 2.0 percentage points per annum per company, up to a limit of 300 million won per company, for two years to companies located in Gwangju. The Gwangju Chamber of Commerce & Industry plans to guide its members about the program to encourage participation. A KODIT official stated, "We hope this agreement will provide practical support for smooth capital procurement and management stability for companies in the Gwangju and Honam regions," adding, "KODIT will continue to actively support the Gwangju and Honam regions to help them become leaders in the development of future high-tech industries."
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