'Incheon Seongjang Fund' Operation Begins in Earnest... Incheon TP and Wonik Investment Partners Agreement

Seo Byung-jo, Director of Incheon TP (left in the photo), and Woo Dong-seok, Head of Venture Investment at Wonik Investment Partners Co., Ltd., are posing for a commemorative photo after signing a business agreement.
[Photo by Incheon TP]

[Asia Economy Reporter Park Hyesook] The operation of the 'Incheon Growth Fund' to support the growth and investment attraction of small and venture companies in the software (SW) convergence field with excellent technology and growth potential is set to begin in earnest.

Incheon Technopark (Incheon TP) signed a 'Mutual Cooperation Memorandum of Understanding (MOU) for the Successful Operation of the Incheon Growth Fund' with Wonik Investment Partners Co., Ltd., a small business venture investment company, on the 15th at Michuhol Tower in Songdo International City.

According to the agreement, the two organizations will collaborate to attract focused investment in SW convergence companies in the Incheon area, discover and nurture companies with investment attraction capabilities, and promote the activation of the 4th industrial revolution leading Incheon's growth.

The Incheon Growth Fund, which Incheon City will sequentially invest in and Incheon TP will operate over five years starting this year, is expected to be established with a scale of 100 billion KRW. Wonik Investment Partners will operate the Incheon Growth Fund (No. 1) worth 54.75 billion KRW for eight years.

The Incheon Growth Fund is a follow-up support project to the 'Creative Growth Venture Fund (No. 1 to 6)' established and operated from 2014 to 2018, and if the liquidation and reinvestment of the Creative Growth Venture Fund are additionally carried out, it is expected to increase to a total scale of 200 billion KRW.

The Creative Growth Venture Fund supports investment mainly in early startups and youth companies, while the Incheon Growth Fund will support the expansion of technology, products, services, production, and company scale as well as global advancement of SW convergence companies that have grown one step further.

Seo Byungjo, President of Incheon TP, said, "Supporting the technological innovation and growth of small and venture companies in Incheon with technology and vision is the role of Incheon TP," adding, "Through the establishment of the fund, we will resolve the financial difficulties of excellent companies and actively support their entry into the global market."

This content was produced with the assistance of AI translation services.