BNK Kyongnam Bank partners with Gyeongsangnam-do to promote the activation of the startup ecosystem and signs a financial support agreement for startups

Source: TokenPost Original Title: BNK Kyongnam Bank and Gyeongsangnam-do Revitalize Startup Ecosystem… Sign Financial Agreement for Startups Original Link: https://www.tokenpost.kr/news/economy/311506 BNK Kyongnam Bank and Gyeongsangnam-do have teamed up with the Korea Technology Finance Corporation to promote the activation of the regional startup ecosystem. The large-scale networking event held in Haeundae, Busan, was attended by about 200 participants.

BNK Kyongnam Bank and Gyeongsangnam-do jointly held a large-scale networking event to revitalize the regional startup ecosystem. Through public-private cooperation, the focus is on strengthening the growth infrastructure for startups and enhancing connections between companies.

The “Connecting With US” event, held for the third time on December 4 at the Lotte Resort in Haeundae, Busan, drew about 200 participants, including BNK Kyongnam Bank President Kim Tae-han, Gyeongsangnam-do Deputy Governor for Economic Affairs Kim Myung-joo, as well as startup and related organization leaders. The event is part of the “Chain-G” startup support project operated by Kyongnam Bank, aiming to establish practical cooperation among members of the startup ecosystem.

The core of this event lies in expanding the scope of financial support for startups. BNK Kyongnam Bank, Gyeongsangnam-do, and the Korea Technology Finance Corporation jointly signed a “Three-Party Business Agreement for Startup Financial Support.” The agreement includes comprehensive cooperation for the financial ecosystem, such as developing financial products tailored for startups and guarantee linkages. In particular, in the area of “fundraising,” which is the biggest challenge startups face in their early stages, local governments, financial institutions, and policy guarantee organizations are joining forces.

Following the agreement signing, a corporate briefing session(IR) was held for startups to present their business models and achievements, and separate meetings were arranged with leading venture capitalists(VC) from the capital area. This provides a significant opportunity for regional companies to directly connect with the capital market, which is typically centered on the capital region. Given that regional startups often have relatively strong technological capabilities but lack exposure and find it difficult to attract external investment, this meeting could potentially lead to substantial funding opportunities.

BNK Kyongnam Bank President Kim Tae-han stated at the event, “Gyeongsangnam-do sets the policy direction for startups, the Korea Technology Finance Corporation supports technological credit, and Kyongnam Bank, as a financial institution, will provide the funds needed for companies to grow,” emphasizing the importance of the public-private support system.

This initiative is expected to further strengthen the self-sustainability of the local startup ecosystem. Considering the relatively harsh startup environment outside the capital area, the organic cooperation among local banks, local governments, and central policy institutions could develop into a virtuous cycle where funding, networking, and policy support operate simultaneously. Especially if the cooperation model is successfully established, other local governments and financial sectors may also adopt similar forms of startup support.