KOTEC and KB Kookmin Bank Join Forces... KRW 175 Billion Support for Industrial Complex Tenants

500 Billion Won in Special Contribution Guarantees

1.25 Trillion Won in Guarantee Fee Support Supplied

Korea Technology Finance Corporation (KOTEC) announced on the 27th that it has signed a "Financial Business Agreement for Strengthening the Competitiveness of Industrial Complex Tenants and Achieving Balanced Growth of the Regional Manufacturing Sector" with KB Kookmin Bank.

This agreement aims to expand financial support for promising regional companies, including those located in industrial complexes, and to strengthen the competitiveness of local industries through productive finance, supporting balanced growth centered on the "five core and three specialized" clusters.

Under the agreement, KOTEC will provide special guarantee agreements totaling 50 billion won, using KB Kookmin Bank's special contribution funds amounting to 2.5 billion won. KOTEC will increase the guarantee ratio from the current 85% to 100% for the next three years, and will offer a 0.3 percentage point reduction in guarantee fees.

Technology Guarantee Fund Headquarters. Technology Guarantee Fund

In addition, KOTEC will provide guarantee-fee support guarantees totaling 125 billion won, based on KB Kookmin Bank’s 2.5 billion won in guarantee fee support funds. For companies utilizing this guarantee, KB Kookmin Bank will offer a 1 percentage point guarantee fee support for two years.

The support targets new technology business operators who meet KOTEC’s technology guarantee requirements, including: companies that have obtained an industrial complex occupancy certificate, companies engaged in innovative growth industries, venture companies, and Inno-Biz certified companies—defined as companies eligible for productive financial support.

Both organizations plan to use this agreement as an opportunity to expand financial support for companies located in industrial complexes, and to continue cooperation to boost the vitality of the regional economy and strengthen corporate competitiveness.

Kwon Hyungtaek, Chairman of KOTEC, stated, "We will continue making active efforts to work with financial institutions so that we can contribute to the national balanced growth strategy and accelerate region-led balanced development."

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