Korea Technology Finance Corporation Partners with Woori Bank to Foster Future Strategic Industries
A Total of 975 Billion Won in Partnership Guarantees
On August 26, Korea Technology Finance Corporation announced that it had signed a 'K-SPARK (Korea SPARK) Korea Grand Leap Productive Financial Support Agreement' with Woori Bank.
This agreement was established to foster future strategic industries such as semiconductors, physical artificial intelligence (AI), and AI data centers, and to support balanced regional development through productive financial support.
Attendees of the agreement ceremony, including Kwon Hyungtaek, Chairman of the Korea Technology Finance Corporation (second from the left), and Jung Jinwan, President of Woori Bank (third from the left), are taking a commemorative photo. Photo by Korea Technology Finance Corporation
View original imageUnder the agreement, Korea Technology Finance Corporation will provide a total of 975 billion won in partnership guarantees, funded by Woori Bank's special contributions and guarantee fee support. Through the partnership guarantee, Korea Technology Finance Corporation will offer preferential benefits to eligible companies, including an increased guarantee ratio (from 85% to 100% for three years) and a reduction in guarantee fees (up to 0.5 percentage points for three years). Additionally, Woori Bank will provide support for guarantee fees (1 percentage point for two years).
The support targets are new technology businesses that meet Korea Technology Finance Corporation's technology guarantee requirements and operate in strategic industries related to Korea's three major 'Grand Leap' mega projects: semiconductors, physical AI, and AI data centers.
The two institutions plan to use this agreement as an opportunity to actively discover promising tech companies in advanced industries and to expand cooperation so that productive financial resources can be supplied smoothly to these companies.
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Hyeongtaek Kwon, Chairman of Korea Technology Finance Corporation, stated, "Semiconductors, physical AI, and AI data centers are core strategic industries that will shape the future competitiveness of Korea. Korea Technology Finance Corporation will continue to strengthen collaboration with financial institutions in order to support the growth of innovative companies leading the future strategic industries."
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