New Korea Technology Finance Corporation (KOTEC) Chair Kwon Hyeong-taek said he would strengthen support for technology-based small and midsize corporations in the AI transition period. On recent calls to merge Korea Technology Finance Corporation (KOTEC) and Korea Credit Guarantee Fund (KODIT), he took a cautious stance, saying, "I am still in the stage of understanding the work."
Meeting reporters on the 20th at the Korea Federation of Small and Medium Enterprises in Yeouido, Seoul, Chair Kwon said, "As the nation has entered an AI transition comparable to an industrial revolution, we will make sure the benefits also reach small and midsize corporations." He emphasized a commitment to policy finance support for technology-innovation corporations, saying, "As industries such as AI and semiconductors are changing rapidly, we will actively support small and midsize corporations so they can grow."
Kwon added, "There has been a lot of good news related to large corporations recently, but small and midsize corporations are still in a difficult situation," and said, "The biggest task is to consider what can help small and midsize corporations. I will work hard to provide as much help as possible to small and midsize corporations."
Regarding the proposal in some quarters to merge Korea Technology Finance Corporation (KOTEC) and Korea Credit Guarantee Fund (KODIT), Kwon said, "I have heard that such talk has come up recently, but I am still in the stage of understanding the work, so I do not have a prepared position."
Kwon took office as the new chair of Korea Technology Finance Corporation (KOTEC) on the 15th. He previously served at Woori Bank's investment finance division and as an executive director at HSBC, and went on to work as special adviser to the Incheon mayor for economy, finance, and investment; vice president of Midan City Development; standing director at Seoul Metropolitan Rapid Transit Corporation; CEO of Gimpo Goldline Operation; and CEO of Korea Housing & Urban Guarantee Corporation (HUG). Most recently, he served as an advisory member of the economy subcommittee of the Presidential Committee on Policy Planning, playing a role in the fields of economic and industrial policy.