Operational Guidelines for the Bank of Korea's New Growth and Job Support Program Related to Financial Intermediation Support Loans

Enacted: May 21, 2013 (Governor Approval, Financial Planning Team-409) Amended: August 23, 2013 (Governor Approval, Financial Planning Team-670) Amended: December 23, 2013 (Governor Approval, Financial Planning Team-1052) Amended: January 28, 2014 (Governor Approval, Financial Planning Team-106) Amended: August 20, 2014 (Governor Approval, Financial Planning Team-643) Amended: April 24, 2015 (Governor Approval, Financial Planning Team-353) Amended: March 22, 2016 (Governor Approval, Financial Planning Team-211) Amended: March 14, 2017 (Governor Approval, Financial Planning Team-164) Amended: August 30, 2017 (Governor Approval, Financial Planning Team-546) Amended: October 16, 2018 (Governor Approval, Financial Planning Team-595) Amended: September 16, 2019 (Governor Approval, Financial Planning Team-549) Amended: September 24, 2020 (Governor Approval, Financial Planning Team-844) Amended: March 24, 2022 (Governor Approval, Financial Planning Team-177) Amended: November 17, 2023 (Governor Approval, Financial Planning Team-873) Amended: June 10, 2025 (Governor Approval, Financial Planning Team-530) Amended: January 22, 2026 (Governor Approval, Financial Planning Team-90)

Article 1 (Purpose)

The purpose of these Guidelines is to stipulate matters necessary for the operation of the Bank of Korea's New Growth and Job Support Program Related to Financial Intermediation Support Loans, in accordance with Article 11 of the "Bank of Korea Regulations on Loans to Financial Institutions" and Article 4 of the "Bank of Korea Guidelines on Loans to Financial Institutions."

Article 2 (Scope of Startup Enterprises and Job-Creating Enterprises)

Startup enterprises and job-creating enterprises refer to small and medium-sized enterprises (SMEs) as defined in Article 2 and Article 3 of the Enforcement Decree of the "Small and Medium-sized Enterprise Basic Act" (hereinafter the same). They are determined according to the following categories:

1. Startup Enterprises
   a. Technology-based Startup Enterprises: <Appendix Table 1-1>, <Appendix Table 1-2> b. General Startup Enterprises: <Appendix Table 2>
2. Job-Creating Enterprises: <Appendix Table 3>

Article 3 (Eligible Recipients)

1. The New Growth and Job Support Program supports loans of Korean currency with a maturity of one year or less provided by financial institutions to the enterprises specified in each item of Article 2.
2. Notwithstanding paragraph 1, Korean currency facility loans provided by financial institutions to supply funds for new equipment investment (including replacement or expansion of existing facilities) for the enterprises specified in each item of Article 2 from October 1, 2019, to September 30, 2021, are included in the eligible recipients.
3. Notwithstanding paragraphs 1 and 2, the following financial institution lending activities are excluded from the support of the New Growth and Job Support Program:
   1. Converted loans made through early repayment of existing loans when handling financial institution loans
      1-2. Converted loans made through refinancing or maturity extension of existing facility loans when handling financial institution loans
   2. Demand deposit loans of financial institutions
   3. Loans to enterprises belonging to the main debtor group as defined in Article 79(1) of the "Banking Supervision Regulations"
   4. Loans to enterprises classified as final default counterparties according to the "General Credit Information Management Regulations"
   5. Loans to closed businesses
4. Detailed matters regarding the scope of startup enterprises and job-creating enterprises shall be determined by the Director of the Monetary Policy Bureau of the Bank of Korea.

Article 4 (Eligible Lending Activities for Support)

1. For loans handled by financial institutions to technology-based startup enterprises using patent rights or utility model rights as collateral without a credit guarantee institution guarantee certificate or physical collateral (hereinafter referred to as "Patent/Utility Model Right Collateral Loans"), the eligible lending activity volume for support shall be calculated as 3 times the actual lending activity volume.
2. For credit loans handled by financial institutions to technology-based startup enterprises that fall under any of the following items, the eligible lending activity volume for support shall be calculated as 3 times the actual lending activity volume. However, in the case of Item 1, an additional 0.5 times the actual lending activity volume shall be added to the eligible lending activity volume for support.
   1. Pure credit loans handled without any collateral or guarantee
   2. Loans with co-partner guarantees
   3. Loans with personal guarantees
3. For loans handled by financial institutions to technology-based startup enterprises using guarantee certificates from the Credit Guarantee Fund under the "Credit Guarantee Fund Act" or the Technology Guarantee Fund under the "Technology Guarantee Fund Act" as collateral, falling under any of the following items, the eligible lending activity volume for support shall be calculated as 3 times the actual lending activity volume.
   1. Restart Support Guarantee Certificates
   2. Re-Startup Support Guarantee Certificates
4. For loans handled by financial institutions to technology-based startup enterprises not falling under Articles 1 through 3, the eligible lending activity volume for support shall be calculated as 2 times the actual lending activity volume.
5. For loans handled by financial institutions to general startup enterprises, the actual lending activity volume shall be calculated as the eligible lending activity volume for support.
6. For loans handled by financial institutions to job-creating enterprises, the eligible lending activity volume for support shall be calculated as 2 times the actual lending activity volume.
7. Notwithstanding Articles 1 through 6, for facility loans under Article 3(2), the actual lending activity volume shall be calculated as the eligible lending activity volume for support.
8. Whether a financial institution's lending activity volume falls under any of Articles 1 through 7 shall be determined on a per-loan basis.

Article 5 (Support Method)

1. The Bank of Korea allocates an amount corresponding to 25% of the eligible lending activity volume for support under Article 4.
2. If the allocation amount under paragraph 1 exceeds the limit for the New Growth and Job Support Program, it shall be allocated proportionally to the eligible lending activity volume for support per financial institution under Article 4.

Article 6 (Sanctions)

1. The Director of the Financial Business Bureau of the Bank of Korea may impose sanctions such as reduction of loan limits or recall of existing loans on financial institutions that violate these Guidelines or directives for their implementation.
2. Sanctions regarding the limit for the New Growth and Job Support Program under paragraph 1 and sanctions regarding other program limits shall be implemented separately according to the distinction between the allocation amount for the New Growth and Job Support Program limit and the allocation amounts for other program limits.

Article 7 (Submission of Data)

1. Financial institutions shall submit the lending activity volume for the New Growth and Job Support Program loans to the Bank of Korea as separately determined by the Director of the Monetary Policy Bureau of the Bank of Korea.
2. The Director of the Financial Business Bureau of the Bank of Korea may request financial institutions to submit detailed data related to loans for the New Growth and Job Support Program.

Article 8 (Delegation)

Detailed matters necessary for the implementation of these Guidelines shall be determined by the Director of the Monetary Policy Bureau of the Bank of Korea. However, matters regarding Article 6 and Article 7(2) shall be determined by the Director of the Financial Business Bureau of the Bank of Korea.

Supplementary Provisions <May 21, 2013>

1. (Effective Date) These Guidelines shall take effect from May 21, 2013.
2. (Transitional Measures) The pre-allocation target period for the first pre-allocation by financial institution granted by the Bank of Korea under these Guidelines shall be from June 2013 to September 2013.

Supplementary Provisions <August 23, 2013>

These Guidelines shall take effect from August 23, 2013.

Supplementary Provisions <December 23, 2013>

Article 1 (Effective Date) These Guidelines shall take effect from December 23, 2013. However, the amended provisions of Article 8 and Article 9 shall apply from the reporting period including the lending activity volume for technology-based startup enterprise loans in January 2014.
Article 2 (Transitional Measures)

1. For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.
2. The amended provision of Article 7 shall apply from the time of granting the pre-allocation for the second quarter/4th quarter of 2014. However, the post-management evaluation target for the pre-allocation applicable in the second quarter/4th quarter of 2014 shall be based on the lending activity volume from January to February 2014.

Supplementary Provisions <January 28, 2014>

Article 1 (Effective Date) These Guidelines shall take effect from February 1, 2014.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <August 20, 2014>

Article 1 (Effective Date) These Guidelines shall take effect from September 1, 2014.
Article 2 (Transitional Provisions) These Guidelines shall apply to loans already handled using technology credit information from Technology Credit Evaluation Agencies (TCBs) based on the "Act on Promotion of Use and Protection of Credit Information" and the "Technology Credit Guarantee Fund Act" before the effective date of these Guidelines.

Supplementary Provisions <April 24, 2015>

Article 1 (Effective Date) These Guidelines shall take effect from May 1, 2015.
Article 2 (Transitional Measures)

1. For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.
2. For loans handled under the previous Guidelines before the effective date of these Guidelines, which included 'technology capability evaluation, etc.' as evaluation items for guarantee certificates and technology credit evaluation reports, the application of the technology capability possession requirements in <Appendix Table 1> may be excluded upon maturity extension, limited to one time.

Supplementary Provisions <March 22, 2016>

Article 1 (Effective Date) These Regulations shall take effect from March 21, 2016.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <March 14, 2017>

Article 1 (Effective Date) These Regulations shall take effect from March 16, 2017.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <August 30, 2017>

Article 1 (Effective Date) These Regulations shall take effect from September 1, 2017.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <October 16, 2018>

Article 1 (Effective Date) These Guidelines shall take effect from November 1, 2018.
Article 2 (Transitional Measures) Loans already handled before the effective date of these Guidelines shall be subject to the previous Guidelines.

Supplementary Provisions <September 16, 2019>

Article 1 (Effective Date) These Guidelines shall take effect from October 1, 2019.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <September 24, 2020>

Article 1 (Effective Date) These Guidelines shall take effect from October 5, 2020.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <March 24, 2022>

Article 1 (Effective Date) These Guidelines shall take effect from April 1, 2022.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <November 17, 2023>

Article 1 (Effective Date) These Guidelines shall take effect from January 1, 2024.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <June 10, 2025>

Article 1 (Effective Date) These Guidelines shall take effect from July 1, 2025.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

Supplementary Provisions <January 22, 2026>

Article 1 (Effective Date) These Guidelines shall take effect from April 1, 2026. However, the amended provision of <Appendix Table 1-1> shall take effect from June 1, 2026.
Article 2 (Transitional Measures) For loans already handled before the effective date of these Guidelines, the previous Guidelines shall apply.

<Appendix Table 1-1> Scope of Technology-Based Startup Enterprises

Scope of Technology-Based Startup Enterprises

◾ General Requirements
SMEs recognized as startups under the "Small and Medium-sized Enterprise Startup Support Act" within 7 years after startup 1) that possess high-level technology certified or have a high proportion of R&D expenses to sales.

◾ Excluded Industries for Support
Financial and insurance business, social security insurance business and pension business, real estate business, leasing business, accommodation and food service business, martial arts dojo operation business, golf course and ski resort operation business, casino operation business, other gambling facility management and operation business, law practice, patent attorney practice, certified public accountant practice, tax advisor practice, hospitals, clinics, other personal service businesses, and industries designated by the Director of the Monetary Policy Bureau of the Bank of Korea.

Note: 1) Technology-based startups with a technology credit evaluation (TCB) based on <Appendix Table 1-2> holding a technology credit evaluation report with a technology grade of 'T3' or higher are recognized as technology-based startups within 10 years after startup.

<Appendix Table 1-2> Requirements for Recognition of Technology-Based Startup Enterprises

Requirements for Recognition of Technology-Based Startup Enterprises

Certificate/Registration Certificate Issuing Agency	Basis Law, etc.
<Common Section>
Patent and Utility Model Right Holding Enterprises
Patent Certificate	Patent Office	Patent Act
Utility Model Registration Certificate	Patent Office	Utility Model Act
Government and Government-Accredited Institution Certified Technology Holding Enterprises
New Technology Certification	Government Ministries	Industrial Technology Innovation Promotion Act, etc. 1)
New Product Certification	Government Ministries	Industrial Technology Innovation Promotion Act
Technology Evaluation Certification	Technology Guarantee Fund, etc.	Technology Evaluation Certification Agency
Agreement between Technology Evaluation Certification Agency and Financial Institutions
InnoBiz Enterprise Certificate	Government Ministries	Small and Medium-sized Enterprise Technology Innovation Promotion Act
R&D-Based Startup Enterprises
R&D Successful Technology Certificate	Government Ministries	Various Government Notices, etc.
Proof of Location in R&D Special Zone	R&D Special Zone Promotion Foundation	Special Act on the Promotion of R&D Special Zones
Approval Documents for Establishment of Technology Holding Company and Subsidiaries	Government Ministries	Industrial Education Promotion and Industry-Academia-Research Cooperation Promotion Act, etc.
Guarantee Certificate with Technology Capability Evaluation Grade of 'Average' or Higher 2)	Technology Guarantee Fund, Credit Guarantee Fund	Guarantee Institution Regulations, etc.
Restart Support Guarantee Certificate and Re-Startup Support Guarantee Certificate	Technology Guarantee Fund, Credit Guarantee Fund	Guarantee Institution Regulations, etc.
Technology Credit Evaluation (TCB) Based Startup Enterprises
Technology Credit Evaluation Report with Technology Grade of 'Average' or Higher 3)	Technology Credit Evaluation Agency 4)	Act on Promotion of Use and Protection of Credit Information, etc.
R&D Excellent Enterprises
Enterprises with R&D expenses 5) exceeding 2% of sales (However, for service industries 6), enterprises with R&D expenses exceeding 0.5% of sales) 7)
New Growth Engine Operating Enterprises
Tax Credit for New Growth/Original Technology R&D Expenses and National Strategic Technology R&D Expenses	National Tax Service, Tax Offices	Special Act on Tax Incentives
Venture Enterprise Certificate	Venture Enterprise Certification Agency	Special Act on Venture Enterprise Promotion
<Additional Section>
Enterprises possessing high-level technology selected through consultation between the Bank of Korea and financial institutions

Notes:
1) Environmental Technology and Environmental Industry Support Act, Construction Technology Promotion Act, Medical Technology Promotion Act, etc.
2) Guarantee certificates with a technology capability evaluation grade of 'Average' or higher as determined by the Director of the Monetary Policy Bureau of the Bank of Korea.
3) Technology credit evaluation reports with a technology grade of 'Average' or higher as determined by the Director of the Monetary Policy Bureau of the Bank of Korea.
4) Includes banks equivalent to technology credit evaluation agencies determined by the Director of the Monetary Policy Bureau of the Bank of Korea.
5) R&D Expenses = Increase in "Development Costs" on the Balance Sheet compared to the previous year + "Ordinary Development Costs (or Ordinary R&D Costs)" and "Research Expenses" on the Income Statement + "Ordinary Development Costs (or Ordinary R&D Costs)" and "Research Expenses" on the Manufacturing (Other) Cost Statement.
6) Service Industry: Industries E, G~N, P~S in the Korea Standard Industry Classification.
7) Verified through the enterprise's audited financial statements.
8) Tax credits for New Growth/Original Technology R&D Expenses and National Strategic Technology R&D Expenses under Article 10 of the "Special Act on Tax Incentives."

<Appendix Table 2> Scope of General Startup Enterprises

Scope of General Startup Enterprises

◾ General Requirements
SMEs within 7 years after startup under the "Small and Medium-sized Enterprise Startup Support Act."

◾ Excluded Industries for Support
Same as the 'Excluded Industries for Support' of Technology-Based Startup Enterprises in <Appendix Table 1-1>.

<Appendix Table 3> Scope of Job-Creating Enterprises

Scope of Job-Creating Enterprises

◾ Requirements
SMEs within 20 years after startup under the "Small and Medium-sized Enterprise Startup Support Act" that fall under any of the following:

1. Enterprises that have incurred tax credits for increasing youth employment under Article 29-5 of the "Special Act on Tax Incentives."
2. Enterprises that have incurred tax credits for employment increase under Article 29-7 of the "Special Act on Tax Incentives."
3. Enterprises that have incurred integrated employment tax credits under Article 29-8 of the "Special Act on Tax Incentives."
4. Enterprises that have incurred SME social insurance premium tax credits under Article 30-4 of the "Special Act on Tax Incentives."

◾ Excluded Industries for Support
Same as the 'Excluded Industries for Support' of Technology-Based Startup Enterprises in <Appendix Table 1-1>.