Mid-sized companies are seeing an increase in financial demand, prompting the government and financial institutions to expand loan support in the second half of the year. Notably, more than half of the supported companies will be exporting mid-sized firms, focusing on enhancing export competitiveness.
The Ministry of Trade, Industry and Energy and Woori Bank announced on September 9 that they have selected 45 mid-sized companies for the 'Rising Leaders 300' loan program for the second half of this year, with a total support plan of 548 billion won.
The Rising Leaders 300 is a financial support program for mid-sized companies jointly promoted by the Ministry and Woori Bank since 2023. Each year, companies are selected twice, and by the end of the first half of this year, approximately 2 trillion won in loans had been provided to a total of 225 companies.
For the second half of this year, 64 companies applied, an increase of 28 from the 36 in the first half. Consequently, the number of supported companies rose from 35 in the first half to 45 in the second half, with the support amount increasing from 466 billion won to 548 billion won.
Specifically, the number of exporting mid-sized companies receiving support increased from 18 in the first half to 28 in the second half. Although mid-sized companies account for only 1.5% of all domestic companies, they are responsible for 17.9% of total exports.
The Ministry and Woori Bank selected the supported companies after recommendations from specialized institutions in four areas: exports, technology, environmental, social, and governance (ESG), and artificial intelligence (AI) transformation, following a business announcement in July.
Organizations involved in the recommendations included KOTRA, the Korea Institute for Advancement of Technology, the Korea Federation of Small and Medium Businesses, and the Korea Industrial Intelligence Association. Selected companies include Kolmar Korea, Lionchem Tech, and STATS ChipPAC Korea.
Each selected company will receive loans of up to 30 billion won and preferential interest rates of up to 1.0 percentage points. Customized consulting services reflecting individual company needs will also be provided.
The Ministry of Trade, Industry and Energy and Woori Bank announced on September 9 that they have selected 45 mid-sized companies for the 'Rising Leaders 300' loan program for the second half of this year, with a total support plan of 548 billion won.
The Rising Leaders 300 is a financial support program for mid-sized companies jointly promoted by the Ministry and Woori Bank since 2023. Each year, companies are selected twice, and by the end of the first half of this year, approximately 2 trillion won in loans had been provided to a total of 225 companies.
For the second half of this year, 64 companies applied, an increase of 28 from the 36 in the first half. Consequently, the number of supported companies rose from 35 in the first half to 45 in the second half, with the support amount increasing from 466 billion won to 548 billion won.
Specifically, the number of exporting mid-sized companies receiving support increased from 18 in the first half to 28 in the second half. Although mid-sized companies account for only 1.5% of all domestic companies, they are responsible for 17.9% of total exports.
The Ministry and Woori Bank selected the supported companies after recommendations from specialized institutions in four areas: exports, technology, environmental, social, and governance (ESG), and artificial intelligence (AI) transformation, following a business announcement in July.
Organizations involved in the recommendations included KOTRA, the Korea Institute for Advancement of Technology, the Korea Federation of Small and Medium Businesses, and the Korea Industrial Intelligence Association. Selected companies include Kolmar Korea, Lionchem Tech, and STATS ChipPAC Korea.
Each selected company will receive loans of up to 30 billion won and preferential interest rates of up to 1.0 percentage points. Customized consulting services reflecting individual company needs will also be provided.
* This article has been translated by AI.
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