Woori Bank Partners with Kibo to Provide Financial Support for Future Strategic Industries

Contribution of Special Funds and Guarantee Fee Subsidies to Kibo
Plan to Provide Loans Worth 1 Trillion Won Using These Resources

Woori Bank is teaming up with the Korea Technology Finance Corporation (Kibo) to support the development of future strategic industries.

Jinwan Jung, President of Woori Bank (right), and Hyungtaek Kwon, Chairman of the Korea Technology Finance Corporation, are taking a commemorative photo after signing the "K-SPARK Korea Great Leap Productive Financial Support Business Agreement" on the 25th at Woori Bank headquarters in Jung-gu, Seoul. Woori Bank

On the previous day, Woori Bank announced on the 26th that it had signed the K-SPARK Korea Great Leap Forward Productive Finance Support Business Agreement with Kibo.

K-SPARK is a joint financial support cooperation system established by Woori Bank and Kibo. It was created to strengthen financial support for future strategic industries such as semiconductors, physical artificial intelligence (AI), and AI data centers.

Woori Bank has decided to contribute a special donation and guarantee fee subsidies to Kibo to provide funding for small and venture enterprises with technological capabilities and growth potential. Using these resources, the bank plans to supply loans totaling approximately 1 trillion won. Target companies will also benefit from a higher guarantee ratio and a 1.0 percentage point reduction in guarantee fees.

Jinwan Jung, President of Woori Bank, said, "I hope this agreement will provide substantial support for the financing of companies in the core sectors of Korea’s Great Leap Forward Three Mega Projects, namely semiconductors, physical AI, and AI data centers." He added, "Woori Bank will continue to work closely with Kibo to expand productive finance for small and medium-sized enterprises that drive future growth, and will actively contribute to strengthening the global competitiveness of Korean companies and enhancing the nation’s industrial competitiveness."

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