Korea Development Bank Supports 9 Asset Management Companies for San-Eun Growth Finance SoBuJang Fund... Competition Ratio 4.5:1

Selection of operators by the end of February through the review process, raising over 200 billion KRW in funds by the end of July
Planned focused investment in companies operating in the materials, parts, and equipment industry to strengthen industry competitiveness

The Korea Development Bank (KDB) headquarters in Yeouido, Seoul, shows a quiet scene on the 20th, which General Motors (GM) headquarters referred to as the 'deadline' for Korea GM's court receivership. KDB is the second-largest shareholder, holding 17% of Korea GM's shares. However, out of the 10 board members, only 3 represent KDB, making it difficult to prevent GM headquarters from pushing forward with court receivership. Lee Dong-geol, chairman of KDB, stated that if GM headquarters unilaterally places Korea GM under court receivership, they will take legal actions such as lawsuits. Photo by Moon Honam munonam@

[Asia Economy Reporter Kangwook Cho] The Korea Development Bank announced on the 1st that a total of nine asset management companies applied for the selection of entrusted operators for the 'Blind Fund in the Materials, Parts, and Equipment Sector,' jointly established with Korea Growth Investment Corporation, showing a competition rate of 4.5:1.

The nine asset management companies are ▲ Lindemann Asia Investment ▲ Medici Investment ▲ BSK Investment / Woori Private Equity Asset Management ▲ BNW Investment / Industrial Bank of Korea ▲ Suan Financial Investment ▲ SKS Private Equity / Korea Investment Private Equity ▲ East Bridge Private Equity ▲ JC Partners ▲ Kingo Investment Partners / Korea Investment Partners.

Earlier, on the 7th, the Korea Development Bank announced a fund contribution project for a dedicated materials, parts, and equipment fund worth more than 400 billion KRW with Korea Growth Investment Corporation to support smooth investment in the materials, parts, and equipment industry. To form the fund, both institutions plan to contribute 220 billion KRW of policy funds and provide incentives to private investors by transferring part of the excess profits (within 20%) or compensating part of the fund losses (within 20% of the contributed principal).

The Korea Development Bank and Korea Growth Investment Corporation plan to select two entrusted operators by the end of this month and establish a blind fund of more than 200 billion KRW by July. Through this, they aim to take the lead in supporting domestic companies in the materials, parts, and equipment sector.

A Korea Development Bank official said, "We will create an industrial ecosystem for a leap toward a manufacturing powerhouse encompassing core parts and materials to finished products by supplying sufficient venture capital to excellent companies in the materials, parts, and equipment sector."

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