Policy finance funding of 13 trillion won is expected to be provided to 12 strategic industries including future vehicles, which will be connected with loan and guarantee programs within the year.

The Ministry of Trade, Industry and Energy (Minister Lee Chang-yang) announced on the 18th that it is recruiting candidate companies for preferential policy finance funding support in 12 industrial sectors including △display △hydrogen △future vehicles △aerospace △steel △carbon △machinery △battery △shipbuilding △semiconductors △optics △electric power.

Companies that meet the requirements for candidate companies will be promoted to receive accelerated credit review at policy finance institutions (Industrial Bank of Korea, Korea Development Bank, Korea Credit Guarantee Fund) and additional preferential funding support upon passing review.

The candidate company requirements have been established as objective criteria that identify companies with outstanding innovation and growth potential, reflecting industry-specific characteristics.

Companies wishing to apply must submit application documents and supporting materials confirming compliance with candidate company requirements to the relevant field department by September 11. The list of companies meeting the candidate company requirements is scheduled to be delivered to policy finance institutions by September.

This candidate company recruitment is a follow-up measure to the 2023 policy finance funding direction announced at the 'Policy Finance Support Council' by the government including the Ministry of Trade, Industry and Energy and the Financial Services Commission, and policy finance institutions.

The Financial Services Commission has selected five strategic tasks and plans to invest a total of 26 trillion won in core projects proposed by relevant ministries by industry, with approximately 13 trillion won to be provided to these 12 industrial sectors.

An official from the Ministry of Trade, Industry and Energy stated, "We plan to monitor implementation status and provide close support together with the Financial Services Commission and policy finance institutions so that companies with outstanding innovation and growth potential can reduce their financial burden."