Korea Technology Finance Corporation, Korea Food Industry Association, and Nonghyup Bank Join Forces to Support Global Expansion of K-Food

Supporting Funding for Food Technology Companies

The Korea Technology Finance Corporation is partnering with the food industry and NH Nonghyup Bank to support funding for food technology companies in line with the K-Food boom.

The Korea Technology Finance Corporation signed a "Financial Support Agreement for Foodtech Companies to Promote K-Food Globally" with the Korea Food Industry Association and NH Nonghyup Bank on the 6th at the Korea Food Industry Association's small conference room in Seocho-gu, Seoul. From the left: Eul-Yong Eom, Executive Vice President of Corporate Finance Division at Nonghyup Bank; Yong-Ik Jeong, Executive Vice Chairman of the Korea Food Industry Association; Jaepil Lee, Director of the Korea Technology Finance Corporation. Kibo

The Korea Technology Finance Corporation announced on July 7 that it had signed a financial business agreement with the Korea Food Industry Association and NH Nonghyup Bank at the Korea Food Industry Association's small conference room in Seocho-gu, Seoul to support foodtech companies for the global expansion of K-Food.

This agreement was established to support smooth funding for food technology companies with innovative technologies, and to strengthen the global competitiveness and sustainable growth of the domestic food industry.

Under the agreement, the association will identify promising technology companies in the food sector and recommend them to Nonghyup Bank. Nonghyup Bank will then select companies eligible for credit extension and recommend them to the Korea Technology Finance Corporation. The Korea Technology Finance Corporation will provide guarantee support to the recommended companies using Nonghyup Bank's special contributions and guarantee fee support funds as financial resources.

Based on this agreement, each institution plans to pursue individual business agreements to establish detailed support measures and to expand financial support for outstanding technology companies in the food sector. They also intend to contribute to increasing the added value of the domestic food industry and securing future competitiveness.

Jaepil Lee, Director of the Korea Technology Finance Corporation, stated, "K-Food is generating high added value not only in Korea but also in the global market, driving the growth of our food industry. The Korea Technology Finance Corporation will continue to expand collaboration with related organizations to actively support the innovative growth and global expansion of outstanding technology companies in the food sector."

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