On June 24, IBK Industrial Bank announced that it has signed a memorandum of understanding with the Technology Guarantee Fund and the Korea Industrial Technology Association to enhance financial access for certified SMEs facing funding challenges during their growth phases.
Under the agreement, the bank plans to implement the 100 billion won financial support program for certified SMEs starting in July. Eligible companies will be those recommended by the Korea Industrial Technology Association and certified by the Technology Guarantee Fund. Selected firms can receive operating funds of up to 3 billion won each. Additionally, they will benefit from a 0.5 percentage point reduction in guarantee fees for two years and a maximum interest rate reduction of 1.3 percentage points.
An IBK official stated, "This financial support aims to strengthen the financial assistance framework for SMEs with technological innovation capabilities. We will continue to actively support the growth of technology companies and enhance industrial competitiveness through collaboration with relevant organizations."
* This article has been translated by AI.
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