Kibo and Hana Bank Expand Financial Support for Semiconductor Industry Partner Companies
1 Trillion Won in Agreement-Based Guarantees
Supporting the Strengthening of Competitiveness in the Semiconductor Industry
Kibo Technology Guarantee Fund announced on July 10 that it has signed a "Semiconductor Industry Scaling Up Financial Support Agreement" with Hana Bank.
This agreement was initiated to support small and medium-sized enterprises (SMEs) and mid-sized partner companies in the semiconductor sector that are experiencing difficulties due to challenges in sourcing raw materials and components, as well as changes in the external environment such as high exchange rates. The goal is to strengthen the foundation for the growth of the semiconductor industry and help reduce the growth gap among companies.
Under the agreement, Kibo will provide a total of 100 billion won in guarantee fee support, based on Hana Bank’s guarantee fee subsidy, and will offer benefits such as a 0.3 percentage point reduction in guarantee fees for three years. Hana Bank will provide a 0.5 percentage point guarantee fee subsidy for two years and offer preferential loan interest rates.
The support targets are companies in the semiconductor industry, such as semiconductor manufacturers and manufacturers of semiconductor and display production equipment, among new technology businesses that meet Kibo’s technology guarantee requirements.
With this agreement, Kibo and Hana Bank plan to expand financial support for partner companies in the semiconductor industry and strengthen their cooperation system to ensure that these companies can stably secure the funding needed for their growth.
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Kim Joungho, Chairman of Kibo, stated, "This agreement has established a practical financial support system to strengthen the competitiveness of the domestic semiconductor industry ecosystem," adding, "Kibo will continue to expand its cooperation with related organizations to support the scaling up of semiconductor partner companies and to promote balanced development across the industry."
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