Shinhan Financial Group Establishes Dedicated Fund to Support Startups
Establishment of a Dedicated Fund Worth 10 Billion KRW This Year and Up to 50 Billion KRW Over 3 Years to Foster Unicorn Companies
[Asia Economy Reporter Park Sun-mi] Shinhan Financial Group announced on the 18th that it is recruiting the first batch of the startup incubation platform 'Innovation Growth Platform: Incheon' until the 30th of this month and has begun establishing a dedicated fund worth 50 billion KRW to support the growth of companies.
This is Shinhan Financial's program that implements the only one-stop incubation system in Korea, from early startup founding to unicorns. It is also the first project of the 'Startup Park,' jointly operated by Incheon City, Shinhan Financial Group, and Celltrion.
Shinhan Financial plans to establish a dedicated fund worth 10 billion KRW this year and up to 50 billion KRW over three years for startups participating in this program, supporting their path to global expansion. To operate the established fund, they have also signed a memorandum of understanding (MOU) with Bigbang Angels, which has extensive experience in startup investment.
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A Shinhan Financial official said, “Shinhan Financial supports the discovery, investment, and incubation of startups in various ways to create an innovative financial new growth ecosystem,” adding, “We will spare no effort at the group level to establish this as a core program for growing startups.”
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