SEOUL-- South Korea has signed an agreement with the European Investment Bank to export a corporate technology evaluation system, the Ministry of SMEs and Startups said Thursday.

The technology evaluation system, developed by the Korea Technology Finance Corp. (KIBO), has been exported to emerging markets, including Vietnam, Thailand and Peru.

But it is the first time for the system to be exported to an advanced country, the ministry said in a statement.

Under the agreement, the European Investment Bank is expected to utilize the KIBO's evaluation system when it extends loans to companies in the European Union and offers a debt guarantee for them, it said.

Source: Yonhap News Agency