• Overview
  • Foundation
  • Roles and Responsibilities
  • Key Tasks
  • Fundamental property
  • Introduction on CI
  • Organization
  • Major Footprints
Introduction on CI
홈  >  About Us >  Overview >  Foundation
Credit guarantee system was first institutionalized in 1961 in Korea. Since then, the credit guarantee system has been playing its due part for overall Small and Medium Enterprises (SMEs) sector to lessen the problem of lack of financial resources due to banks' prevalent collateral-based lending practice.

In the 1980s, the necessity to promote SMEs with the orientation of technology or other source of innovation capabilities separately from general SMEs newly arose to nurture competitive advantage of the overall economy for the future growth, and the national consensus was reached.

As a result, KOTEC was founded in 1989 by the Korean Government as a non-profit credit guarantee institution under the special enactment, "Financial Assistance to New Technology Businesses Act" which went through a full-scale revision and was newly titled "Korea Technology Finance Corporation Act" in 2016.

KOTEC is now a specialized institution in providing full scale supports to SMEs and venture businesses with competitive technology, innovation, and other knowledge-based business contents at all growth stages. The mission of KOTEC is to take a lead in converting Korean economy to be creative and innovative..