Woori Bank (President Jung Jin-wan) is launching a total of KRW 1 trillion in funding support for companies in future high-tech industries in cooperation with the Korea Technology Finance Corporation. On 25 August, the two institutions signed the “K-SPARK Korea Grand Leap Productive Finance Support Business Agreement,” which focuses on expanding productive finance and fostering national strategic industries.

K-SPARK is a dedicated financial support framework for advanced industries jointly established by the two institutions. In line with the government’s “Korea Grand Leap Three Mega Projects” initiative, it was created with the aim of intensively nurturing small and medium-sized enterprises (SMEs) and venture companies in the semiconductor, physical artificial intelligence (AI), and AI data center sectors. The two parties agreed to upgrade future strategic industries while also promoting balanced development in non-capital regions.

Under this agreement, Woori Bank will deposit special contributions and guarantee fee support funds with KOTEC for companies with technological prowess and growth potential. KOTEC will use these resources to provide loan guarantees worth a total of around KRW 1 trillion to the market.

Beneficiary companies will receive benefits designed to help them secure effective liquidity. By applying a higher guarantee ratio than before and reducing the guarantee fee rate by 1.0 percentage point, the program is expected to substantially lower funding barriers for technology companies.

President Jung Jin-wan of Woori Bank expressed expectations that this cooperation will open a practical channel for funding flows to high-tech companies, which serve as a new growth engine for the national economy. He added that Woori Bank will continue to work closely with KOTEC to further expand productive finance and contribute to strengthening the global competitiveness of domestic companies and the country’s industrial base.

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