KOTEC Declares New Vision and Vows to Focus on Corporate Innovation Growth

Chairman Kim Jong-ho delivers his New Year’s message at a ceremony to kick off the 2023 business year and declare its new vision at KOTEC headquarters in Busan on Jan. 2.

Chairman Kim Jong-ho of Korea Technology Finance Corp. (KOTEC). (Photos: KOTEC)

Korea Technology Finance Corp. (KOTEC) declared a new vision of “innovation growth platform coming together from tech startup to scale-up” to fully comply with the new government’s national agenda and proactively cope with rapidly changing management conditions.

The new vision means that KOTEC pledges to play a pivotal role to offer services tailored to correspond to each growth stage of tech companies with excellent technology and content, in cooperation with the private and public sectors, and help them achieve dynamic innovation growth.

In his New Year’s message, KOTEC Chairman Kim Jong-ho said, “We led efforts to help merchants and small businesses overcome the crisis caused by the COVID-19 pandemic last year, and KOTEC will spearhead efforts to achieve corporate innovation growth and raise their competitiveness by building future-oriented management foundation, such as expanding of technology financing support to respond to multiple crisis and build the innovation growth ecosystem this year.”

Chairman Kim set three major tasks for this year: coping with multiple crises and expanding technology financing support to build the innovation growth ecosystem; demonstrating capabilities as a technology evaluation institution; and pursing efficient management innovation; and building a future-oriented management foundation through ESG management support.

KOTEC Implements Commercialization of Core Technologies, Owned by Universities

Korea Technology Finance Corp. (KOTEC) is accelerating efforts to promote the commercialization of technologies with a focus on universities and create collaboration models among industry and academic circles.

KOTEC struck an MOU on sharing and collaboration businesses with industry-academia cooperation teams of Aju University and Sukmyung Women’s University, Gyeonggi Techno Park, Gyeonggi Daejin Techno Park, and Korea Industrial Complex Corp. at the Suwon Convention Center last Dec. 7.

Under the deals, KOTEC and the signatories agreed to build mutual collaboration regimes, such as sharing information with each other to invigorate their technology transfer and tech startups and commercialization, promoting industry-academia collaboration education to nurture company-oriented manpower, planning and implementing joint research based on corporate collaboration centers, and conducting joint marketing activities to explore industry-academia collaboration company candidates.

KOTEC plans to implement commercialization of core technologies, owned by universities, through technology and information exchange, while spearheading technology innovation and growth of regional SMEs venture companies.

Kim Dae-chul, head of KOTEC’s Gyeonggi Regional Headquarters, said, “Under the agreement, each institution plans to proactively cooperate in promoting technology transfer and tech commercialization so that each institution’s strong points could have synergetic effects.”

KOTEC will do its utmost to ramp up the competitiveness of SMEs in the region by expanding collaboration among universities and SMEs in the future, he said.