BNK Financial Group said on Thursday that BNK Busan Bank and BNK Kyongnam Bank signed a business agreement at Busan Bank's headquarters with Korea Venture Investment and Korea Technology Finance Corp to build a growth base for innovation firms in the southeast region.

Officials from key organisations attended the signing ceremony, including SMEs and Startups Minister Han Sung-sook (한성숙), BNK Financial Group Chairman Bin Dae-in (빈대인), Korea Venture Investment CEO Lee Dae-hee (이대희) and Korea Technology Finance Corp Executive Director Park Ju-seon (박주선). They shared directions for cooperation to revitalise the venture ecosystem in the southeast region.

The agreement focuses on setting up a structure in which financial support continues after investment, beyond funding support. It also focuses on establishing an investment-guarantee-loan linkage system to supply needed funds on time by corporate growth stage. It aims to ease funding disruptions after investment and create a financial environment that allows companies to focus on technology development and market expansion.

The participating organisations plan to expand financial support for venture firms, including investment-linked guarantees and loan support and the operation of an early recovery programme for sales receivables. They also plan to cooperate to expand opportunities for startups to attract investment by holding joint investment briefings.

They also plan to build a cooperative system that runs from the stage of identifying promising companies through investment, guarantees and financial support, joining forces to support the full corporate growth cycle.

A BNK Financial Group official said, "To ensure the sustained growth of regional innovation firms, a support system that organically links investment and finance is important." The official added, "In line with the government's direction for productive finance policy, we will continue to expand our financial role to support the growth of industries and companies in the southeast region."