BNK Gyeongnam Bank and Gyeongsangnam-do activate the startup ecosystem... Sign financial agreements with startups

BNK Kyongnam Bank and Gyeongsangnam-do have teamed up to host a large-scale online event aimed at energizing the regional startup ecosystem. The event focuses on establishing a growth foundation for startups through public-private cooperation and strengthening inter-company collaboration.

The “Connecting With US” event, held on December 4 at Gimhae Lotte Resort, marks its third year. About 200 participants attended, including key figures such as Kim Tae-han, President of Kyongnam Bank, Kim Myung-joo, Vice Governor of Economic Affairs of Gyeongsangnam-do, as well as leaders of startups and related organizations. As part of the “Chain-Intelligence(Chain-G)” startup support project operated by Kyongnam Bank, the event aims to build substantive cooperative relationships among members of the startup ecosystem.

The core of this event is to expand financial support for startups. Kyongnam Bank, Gyeongsangnam-do, and the Korea Technology Finance Corporation jointly signed a “Tripartite Business Agreement on Supporting Startup Finance.” The agreement covers the development of exclusive financial products for startups and comprehensive cooperation in connecting with the credit guarantee and other financial ecosystems. Especially in the area of “fundraising,” which presents the greatest challenge for early-stage startups, this move signifies a collaborative effort among local government, financial institutions, and policy guarantee agencies.

After the signing ceremony, a company presentation(IR) was held on-site to introduce the business models and achievements of actual startups, along with separate matchmaking sessions with major venture capital institutions(VC) from the capital region. This provides local companies with a crucial opportunity to connect directly to capital markets, which is especially significant given the investment flow is typically centered on the capital area. Considering that local startups have relatively high technological capabilities but lack exposure and struggle to attract external investment, this matchmaking is expected to translate into real investment opportunities.

At the event, Kyongnam Bank President Kim Tae-han emphasized: “If Gyeongsangnam-do sets the policy direction for startups and the Korea Technology Finance Corporation provides technological credit guarantees, Kyongnam Bank, as a financial institution, will take responsibility for supplying funds throughout the growth process,” highlighting the importance of a public-private joint support system.

Such initiatives are likely to move toward strengthening the endogenous power of the regional startup ecosystem in the future. Given the relatively weak startup environment outside the capital area, organic cooperation among local banks, local governments, and central policy agencies is expected to develop into a virtuous cycle structure with coordinated financial, network, and policy support. In particular, if this cooperation model is successfully implemented, it is expected that other local governments or financial sectors may also adopt similar forms of startup support.