This event was a follow-up to a memorandum of understanding signed in January between the Korea Technology Guarantee Fund and Hanmi Bank. It aimed to address challenges faced by domestic startups entering the U.S. market, including funding, investment attraction, and establishing local financial infrastructure. The event also aimed to expand connections with the local startup ecosystem through collaboration with the Stanford Consumer Accelerator Program (SCAP).
Lee Jang-hoon, the Deputy Director of the Small and Medium Business Administration at the Korean Consulate in San Francisco, stated in his opening remarks, "This year, the consulate has been designated as a hub for export contracts, science and technology, and K-beauty. We will work with relevant agencies to effectively improve the support system for deep-tech startups and promote K-initiatives."
During the event, Hanmi Bank shared practical know-how on establishing accounts, using credit cards and checks, and other financial foundations necessary for startups facing difficulties in their initial U.S. market entry.
In line with the government's global venture policy, the Korea Technology Guarantee Fund introduced global technology finance support systems tailored to the Silicon Valley investment and financial environment, including overseas expansion guarantees linked to local direct loans, venture capital investment guarantees, and a recommendation system for tech credit loans in collaboration with Hanmi Bank.
Professor Kim So-hyung from Stanford University emphasized, "We will strengthen our cooperation with the Korea Technology Guarantee Fund to support the growth of excellent startups in the K-beauty and K-food sectors and enhance technology commercialization."
Earlier, the Korea Technology Guarantee Fund announced the opening of its 'Silicon Valley branch' in January, aiming to provide close support for domestic startups and ventures entering this challenging market. The Silicon Valley branch is the second overseas branch, following the opening of its Singapore branch in June of the previous year.
Lee Jong-hyuk, head of the Korea Technology Guarantee Fund's Silicon Valley branch, stated, "We will continue to gradually expand our collaboration with Hanmi Bank and Stanford University to strengthen an effective global technology finance support system for startups."
* This article has been translated by AI.
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