The Korea Technology Guarantee Fund announced that it signed a financial support agreement for the 'ABC+E Future Growth Engine' with Incheon City and Hana Bank on August 14 at Incheon City Hall in Namdong-gu.
The agreement aims to enhance financial accessibility for technology companies in Incheon’s future strategic industries and to bolster the competitiveness of local industries. The term 'ABC+E' refers to artificial intelligence (AI), biotechnology, content, and energy, which are key future strategies promoted by Incheon Mayor Park Chan-dae.
The Korea Technology Guarantee Fund will provide a special guarantee agreement worth up to 50 billion won, funded by Hana Bank's special contribution of 2.5 billion won. The guarantee ratio will increase from 85% to 100% over three years, and the guarantee fee will be reduced by 0.3 percentage points during the same period.
Based on Hana Bank's total guarantee fee support of 1.2 billion won, a maximum of 100 billion won in guarantee fee support will also be provided. Hana Bank will support a guarantee fee reduction of 0.6 percentage points for two years.
Eligible recipients include AI, biotechnology, cultural content, and energy businesses that meet the Korea Technology Guarantee Fund's technology guarantee requirements and have their headquarters, main business locations, or factories in Incheon or plan to relocate there.
The institutions plan to leverage this agreement to connect policy and financial support capabilities, discover promising technology companies in Incheon, and create a stable funding environment to support the sustainable growth of these businesses.
Park Joo-sun, Executive Director of the Korea Technology Guarantee Fund, stated, "It is meaningful to sign this agreement at a time when Incheon City is seeking to secure new growth engines based on future strategic industries. The Korea Technology Guarantee Fund will continue to expand cooperation to assist technology companies in securing funding and actively support the competitiveness of local industries."
* This article has been translated by AI.
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