Korea Credit Guarantee Fund and Shinhan Financial to Support Startups from Discovery to Global Expansion...First Step in Vietnam

Supporting Local Settlement and Growth Through Financial and Non-Financial Assistance Expanding Cooperation Beyond Vietnam Starting with Local Partnerships

The Korea Credit Guarantee Fund announced on the 18th that it has signed a "Business Agreement for Supporting the Global Expansion of Innovative Startups" with Shinhan Financial Group.

The agreement was signed the previous day at the head office of Shinhan Vietnam Bank. It was established to systematically support startups that face difficulties in securing funding, market information, and local networks necessary for overseas expansion, helping them successfully enter and settle in foreign markets.

Under the agreement, the two institutions will cooperate to ▲ discover and mutually recommend promising innovative startups ▲ provide both financial and non-financial support for overseas expansion. ▲ They will also further strengthen cooperation by linking domestic incubation and global expansion programs, and offer support for local market entry using information and networks on the ground.

In particular, they plan to connect the Korea Credit Guarantee Fund's newly introduced "Overseas Expansion Startup Support Program" with the "Shinhan Futures Lab Global Program" to provide stage-by-stage financial and non-financial services, from initial overseas preparation to local settlement and growth for startups.

The two organizations intend to first establish their cooperation model in Vietnam, which has emerged as a new global hub, and then gradually expand the target countries in the future.

Kang Seungjoon, Chairman of the Korea Credit Guarantee Fund, stated, "Through this agreement, we have established a foundation to systematically support startups' global expansion by leveraging the capabilities of both institutions," and added, "We will make every effort to ensure that our cooperation in Vietnam leads to real success stories for Korean startups."

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