Korea Technology Finance Corporation (KOTEC) said on the 11th that it supplied 180 billion won in guarantees this year in the artificial intelligence (AI) sector. It plans to execute 90 billion won in the second half.
The guarantees were carried out in step with the government's industry development strategy. The government selected A (AI), B (Bio), C (Contents & Culture), D (Defense), E (Energy), and F (Factory) as the "six growth engines" and is pushing systematic policy support to strengthen future national competitiveness. KOTEC is strengthening support across the six growth engine industries through its "BoostUp strategy."
To focus support on the AI sector, KOTEC in May launched an "AI-specialized dedicated guarantee product." Among them, the "AI·AX competitiveness enhancement preferential guarantee" raises the guarantee ratio to up to 95% for corporations that develop, introduce, or use AI technologies, lowers guarantee fees by up to 0.3 percentage point (P), and expands special calculation rules, among other benefits.
In addition, through the "special guarantee for corporations engaged in the semiconductor industry," it supports research and development (R&D) for excellent technology corporations in the semiconductor field, including fabless. In particular, for core areas such as equipment localization, it supports a maximum guarantee limit of 20 billion won, raises the guarantee ratio to up to 95%, and reduces guarantee fees by up to 0.3%P.
Kim Jong-ho, KOTEC chair, said, "KOTEC is proactively supporting future growth engines through products dedicated to the artificial intelligence sector in step with the government's innovation growth strategy," adding, "KOTEC will continue to faithfully fulfill its role as a policy finance institution that underpins the enhancement of national technological competitiveness and the innovative growth of small and medium-sized venture corporations."
Meanwhile, corporations seeking technology guarantees in the AI sector can apply through KOTEC's digital branch or at branches located nationwide.