Korea Technology Finance Corporation (KOTEC) marked its 37th anniversary by presenting a vision to leap forward as a leading global tech finance institution.
Kang Jong-ho, chair of Korea Technology Finance Corporation (KOTEC), said on the 1st in a founding anniversary address, "We have established systems that reflect on-the-ground demand, including research and development (R&D) finance, green finance, and guarantees for mergers and acquisitions (M&A)," adding, "We must continue to advance as a technology finance institution with global competitiveness."
Since its establishment on Apr. 1, 1989, Korea Technology Finance Corporation (KOTEC) has supported the innovative growth of small and midsize ventures even amid crises such as the foreign exchange crisis, the global financial crisis, and COVID-19.
Korea Technology Finance Corporation (KOTEC) presented the following as key tasks: ▲ strengthening support for technological innovation by small and midsize ventures ▲ securing future growth engines on a global foundation ▲ enhancing fairness and integrity ▲ establishing a flexible organizational culture.
This year, it plans to supply a total of 30.1 trillion won in guarantees, including 5.4 trillion won in new guarantees. It will also expand productive finance, including 100 billion won for SME factoring and 50 billion won for guarantee-linked investments.
In addition, it will strengthen technology protection systems to prevent technology theft and provide relief for damages, and it plans to revitalize the venture ecosystem through support for succession-type M&A.
On this day, Korea Technology Finance Corporation (KOTEC) arranged time for communication among executives and employees via a YouTube live broadcast instead of a separate anniversary ceremony and also carried out social contribution activities, such as supporting local independent bookstores.