The Korea Technology Finance Corporation announced on the 19th (local time) that it has opened its first overseas branch, the 'Singapore branch,' in the central business district (CBD) of Singapore.
The establishment of the overseas branch is part of its global business expansion strategy. The goal is to strengthen the connection between overseas companies in Southeast Asia and foreign investors by building a close-knit financial support system and to broaden the overseas expansion of domestic small and venture corporations.
The first overseas branch opened in Singapore. Singapore is emerging as a financial and industrial hub in Asia and is assessed as an innovation base for global expansion, particularly in deep tech fields such as artificial intelligence, semiconductors, and biotechnology.
About 100 attendees, including local government officials, relevant agency representatives, and businesspeople, are expected to participate in the opening ceremony to celebrate the launch of the Singapore branch.
Following the opening ceremony, the Korea Technology Finance Corporation will announce technology financing measures to support overseas expanding corporations and hold investor relations (IR) presentations for outstanding technology corporations. Domestic deep tech corporations, including Palette, Rawdin, and First Bio Therapeutics, which are promoting global scale-up, will participate in investment pitching, seeking investment opportunities through networking and consultations with local venture capitalists (VCs).
Additionally, the Korea Technology Finance Corporation signed a memorandum of understanding (MOU) with Shinhan Bank on this day to provide financial support for companies entering Southeast Asia (Jump into SEA). Through this agreement, the two institutions will support financing for companies entering Southeast Asia and collaborate on technology-based evaluations and connect their global networks.
Kim Jong-ho, the chairman of the Korea Technology Finance Corporation, noted, 'We have laid the foundation to substantively support the overseas expansion of domestic small and venture corporations through the establishment of the Singapore branch,' adding, 'We will continue to do our best to support promising small and venture corporations with strong technological capabilities to grow larger in the global market by expanding cooperation with global financial institutions and local VCs.'
Meanwhile, the Korea Technology Finance Corporation plans to establish its second overseas branch in Silicon Valley, USA, in the second half of this year, starting with the opening of the Singapore branch.