KB Kookmin Bank said on Feb. 26 it signed a business agreement with the Korea Technology Finance Corp to support small and medium-sized companies related to future strategic industries.

The agreement follows the "A to F Productive Finance Support Business Agreement to Foster Future Strategic Industries" signed on Feb. 25. KB Kookmin Bank will make a 13 billion won special contribution to the Korea Technology Finance Corp. Based on this, it plans to support collateral loans backed by guarantee certificates totaling 430 billion won.

Eligible companies are SMEs with technological capabilities operating in the fields of A (AI), B (Bio), C (Contents & Culture), D (Defence), E (Energy) and F (Factory). It also includes companies supported through KB ESG consulting, tenant companies at the KB Innovation Hub Center, and companies that hired workers through the KB Good Job recruitment fair.

Companies eligible for the agreement guarantee can receive a guarantee certificate from the Korea Technology Finance Corp with a 100 percent guarantee ratio applied for 3 years. Alternatively, they can receive support from the bank for guarantee fees totaling 1.6 percentage points over 2 years, at 0.8 percentage points per year.

Separately, KB Kookmin Bank plans to make special contributions totaling 70 billion won this year to support loans of more than 1.1 trillion won.

A KB Kookmin Bank official said it was an agreement to support SMEs engaged in future strategic industries and that the bank plans to continue related financial support.