KOTEC, Korea Defense Industry Association "Join Hands" to Boost M&A Among Defense SMEs

Support for Business Succession and Expansion

The Korea Technology Finance Corporation said on the 13th that it had signed a "Business Cooperation Agreement to Promote M&A Among Small and Medium-Sized Defense Industry Companies" with the Korea Defense Industry Association at its Seoul office on the 12th.

The agreement aims to identify M&A demand among small and medium-sized defense companies and link brokerage services with financial support to facilitate business succession and expansion. The Korea Defense Industry Association has about 800 member companies, including major domestic defense contractors as well as large, midsize, and small and medium-sized companies related to the defense industry.

Under the agreement, the association will promote KOTEC's public-private M&A platform to its members and identify and refer to KOTEC companies seeking to buy or sell businesses, as well as companies needing acquisition financing. KOTEC plans to provide M&A consulting and brokerage services to the referred companies and support the funds needed for acquisitions through M&A guarantees.

KOTEC Director Kim Namjae said, "KOTEC will continue to expand brokerage and financial support through cooperation with relevant organizations so that M&A between companies can proceed smoothly, and will work to strengthen the competitiveness of the defense industry."

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