Korea Technology Finance and Woori Bank Sign MOU to Boost SME M&A Financing

Korea Technology Finance Corp., Woori Bank sign MOU to boost SME M&A financing

Korea Technology Finance Corp. headquarters. [Photo=Korea Technology Finance Corp.]

Korea Technology Finance Corp. said Tuesday it signed a business agreement with Woori Bank on M&A financing support to promote business succession and technology innovation.

Under the deal, KOTEC will provide 20 billion won in special contribution-backed guarantees funded by a 1 billion won special contribution from Woori Bank. Benefits include a higher guarantee coverage ratio (85% to 100% for three years) and a reduced guarantee fee (down 0.3 percentage points for three years).

KOTEC will also supply 21.4 billion won in guarantee-fee support-backed guarantees based on 300 million won in Woori Bank funding. Woori Bank will cover guarantee fees by 0.7 percentage points for two years.

Lee Sang-chang, a director at KOTEC, said the agreement is expected to help spur M&A activity among small and midsize companies and support sustained growth. He said KOTEC will expand cooperation with related institutions to strengthen support for companies pursuing M&A and to build an M&A ecosystem aimed at preventing the disappearance of technology firms and promoting business continuity.

Baemin runs Earth Day promotion

Baemin Earth Day promotion image. [Photo=Woowa Brothers]

Woowa Brothers, operator of the Baedal Minjok food delivery app, said Tuesday it will run an Earth Day promotion for customers who opt out of disposable spoons and forks and for those who order using reusable containers.

Through April 28, Baemin will select 3,000 customers by lottery from those who choose the “no disposable cutlery” option and place an order, awarding each a 5,000 won discount coupon for food delivery orders.

Customers can enter by replying on the in-app event page to a message “sent by the Earth” with their views on skipping disposable cutlery, then completing an order while keeping the opt-out option selected.

Kim Jeong-eun, head of Woowa Brothers’ ESG team, said the company designed the promotion to help customers practice environmental protection in daily life. She said the company will continue efforts to spread eco-friendly delivery culture, including expanding areas served by its reusable-container service.

Torder launches AI class for small merchants

Torder logo. [Photo=Torder]

Torder said Tuesday it has launched an education program, the “Torder Small Merchant AI Class,” to support sustainable growth and improve store operations efficiency, and that it successfully completed its first session.

The first session, held April 6 at Torder’s headquarters in Yeongdeungpo-gu, was offered to franchisees of “Geunom Pocha.” The curriculum focused on practical topics that can be applied directly to store operations, including use of smart-solution equipment, draft beer quality control, local marketing strategies and AI-based store management.

A core session covered training on automating store management using Torder’s small-merchant AI tool, “TorderGPT,” which was recently released in beta.

Kwon Seong-taek, Torder’s CEO, said the company will continue supporting an environment in which store owners can reduce repetitive management tasks and run their stores more efficiently, centered on TorderGPT.

* This article has been translated by AI.

JUNG YEON WOO