Kookmin Bank and Korea Technology Finance Corporation Join Forces to Bolster Future Growth Industries

Kookmin Bank, one of South Korea's leading financial institutions, has forged a strategic partnership with Korea Technology Finance Corporation to launch a groundbreaking financial support program. This initiative is designed to accelerate growth in small and medium-sized enterprises (SMEs) and venture firms operating in future-focused industries.

On October 18, Kookmin Bank announced the signing of the “Real Growth in Korea” agreement, an ambitious plan that allocates KRW 5 billion (approximately $50 million) in dedicated funding to create a guarantee fund valued at KRW 140 billion (about $140 million). The financial framework is set to provide crucial assistance to innovative companies looking to thrive in high-growth sectors.

This funding package comprises a KRW 4 billion special contribution alongside KRW 1 billion earmarked for supporting guarantee fees. Eligible companies under the agreement will benefit from comprehensive financial perks, including 100% guarantee coverage and a discounted guarantee fee rate reduced by 0.2 percentage points for a span of three years. Furthermore, firms qualifying for additional guarantee fee support will enjoy an annual discount of 0.5 percentage points over the same duration.

Driving Innovation and Green Transformation

The initiative specifically targets South Korea's most critical future-oriented industries, spanning sectors such as artificial intelligence (AI), semiconductors, pharmaceuticals, biotechnology, digital healthcare, and defense technology. Additionally, the program prioritizes advancing green transition initiatives in areas like renewable energy, carbon neutrality, climate-focused technologies, and industrial modernization, aligning with global efforts to combat climate change and foster sustainability.

A spokesperson for Kookmin Bank emphasized the importance of the program, stating, “We hope this initiative acts as a tangible catalyst for enhancing the research and development capabilities of participating companies. Looking ahead, our commitment remains firm—we will continue scaling our financial support to bolster the competitiveness and growth potential of industries pivotal to South Korea’s future economy.”

This collaboration between Kookmin Bank and Korea Technology Finance Corporation underscores their shared dedication to nurturing innovation while addressing the global demand for sustainable practices, positioning South Korea as a leader in both technological advancement and green transformation.