200 Billion Won Guarantee Support for K-Content Companies

Government Signs Agreement with KB Kookmin Bank and Korea Credit Guarantee Fund

Customized Support for Three Years

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on May 13 that they had signed a "K-Content Productive Financial Support Agreement" worth 20 billion won with Korea Credit Guarantee Fund and KB Kookmin Bank. The agreement aims to ease the financial burden of content creators by strengthening guarantees throughout the entire process, from content planning and production to commercialization.

KB Kookmin Bank will make a special contribution of 1 billion won to support small and medium-sized content companies. Based on this, the Korea Credit Guarantee Fund will provide customized guarantees worth 20 billion won—20 times the original contribution—to companies recommended by the Korea Creative Content Agency over the next three years.

The Korea Creative Content Agency has been expanding its cooperation with the financial sector. In March, the agency signed a special contribution agreement with NongHyup Bank and Hana Bank. During the same month, it also introduced a "content export guarantee interest subsidy" program in partnership with the Korea Trade Insurance Corporation to help reduce the interest burden for companies with strong export capabilities.

Last month, the agency signed another interest subsidy agreement with NongHyup Bank, thereby completing a financial support network that includes all six major commercial banks: IBK Industrial Bank of Korea, Shinhan Bank, KB Kookmin Bank, Woori Bank, Hana Bank, and NongHyup Bank.

Yoo Hyunseok, Acting President of the Korea Creative Content Agency, stated, "The financial system that energizes the entire K-content industry has been strengthened," adding, "We will continue to advance our customized financial support."

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