The Credit Guarantee Fund has partnered with Busan Bank to offer special guarantees worth 10 billion won to local K-content companies.
On October 6, the Credit Guarantee Fund announced that it has signed a 'K-Content Productive Financial Support Agreement' with Busan Bank.
This agreement aims to support funding for cultural content companies in broadcasting, film, and performance sectors, in line with the government's productive finance policy, while reducing financial burdens.
Under the agreement, Busan Bank will contribute 500 million won, which the Credit Guarantee Fund will use to provide a total of 10 billion won in guaranteed loans.
The support will target companies involved in content planning, production, commercialization, and those utilizing content intellectual property (IP) within the cultural content industry.
The Credit Guarantee Fund will apply a 100% guarantee rate for three years to companies utilizing the guaranteed loans. Additionally, the guarantee fee rate will be reduced by 0.5 percentage points to lessen the financial burden on these companies.
A representative from the Credit Guarantee Fund stated, “We hope this agreement will significantly aid K-content companies in securing funding and alleviating financial costs. We will continue to strengthen collaboration with financial institutions to support the stable growth of cultural industry enterprises.”
* This article has been translated by AI.
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