In his New Year¡¯s message, Chairman Kim Jong-ho of Korea Technology Finance Corp. (KOTEC) said that, ¡°Last year was a year in which KOTEC proved its values to outside by easing difficulties related to a liquidity crisis, caused by the COVID-19 pandemic, SMEs experienced and concentrating on assisting technology innovation firms, raw materials, parts and equipment companies and would-be unicorn businesses.¡± KOTEC Chairman Kim extended thanks to KOTEC executives and staffers for their good work.
¡°Carbon neutrality is emerging as a task of the times in the wake of the protracted pandemic, accelerated transition to non-face-to-face contact and climate change,¡± he said.
Chairman Kim urged them to their best to further fulfill their principal responsibilities to support SME venture companies.
Chairman Kim Jong-ho of Korea Technology Finance Corp. (KOTEC) gives an oath to put integrity into practice at a ceremony to kick off the 2022 business year at KOTEC headquarters on Jan. 3.
Specifically, he said, KOTEC will expand technology guarantees with a focus on innovative growth industries, overcoming the crisis of the Korean economy, and reinvigorating the national economy.
KOTEC will do so by easing the repayment burden of companies struggling to cope with the crisis caused by the pandemic; strengthening its status as an technology evaluation institution by assisting R&D land IP commercialization and upgrading evaluation systems into an AI-based one; supporting the scaling up of innovative companies and ramping its roles as a public investment institution by creating a venture investment environment coupled with the private sector and strengthening programs to nurture unicorn firms.
Will also implement core projects to build an ESG management regime in cooperation with the private sector, such as supporting guarantees to cope with climate change, based on carbon evaluation and programs to offer preferential treatment to social venture firms.
KOTEC held a ceremony to kick off the 2022 business year, which coincided with a rally to put integrity into practice.
At the event, Chairman Kim said KOTEC should devote itself to establishing itself as an institution to be beloved by people by carrying out its responsibilities to meet public expectations.
He called for building a transparent process coupled with KOTEC¡¯s overall work, including technology evaluations and guarantee screening and establishing steps to ramp up anti-corruption activities and put them into practice.
KOTEC Chairman Kim Jong-ho tours DIT Green in Jincheon, Chungcheongbuk-do, on Feb. 7 to lend an ear to difficulties the company experiences after overcoming its initial failure. (Photos: KOTEC)
KOTEC Evaluates Investment Firms¡¯ Exit Strategies with AI
Korea Technology Finance Corp. has completed the development of a new investment evaluation model, a combination of the conventional investment evaluation model and an AI-based investment signal pattern and decided its application on the overall future evaluation process, it said on Feb. 7.
The AI-based investment evaluation model is one considering high growth potential of candidate firms and exit strategies.
It is designed to overhaul startups and venture firms¡¯ ways of attracting investments by offering systematic information to investment decision-making.