IBK Industrial Bank invests 21.5 billion KRW in two small and medium-sized materials and components companies

PhotonWave invests 5 billion KRW and Mutec Korea invests 16.5 billion KRW each

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 30th that it has selected Photonwave and Mutek Korea as the first and second investment companies of the ‘IBK-BNW Industrial Competitiveness Growth Support Fund’ and completed investments of 5 billion KRW and 16.5 billion KRW, respectively.

The ‘IBK-BNW Industrial Competitiveness Growth Support Fund’ is a fund established with a scale of 190 billion KRW in August to nurture and support domestic companies in the materials, parts, and equipment sectors amid the ongoing export restrictions from Japan.

Photonwave is a small and strong company possessing LED chip manufacturing technology for sterilization. Due to the prolonged COVID-19 pandemic, the importance of sterilization and disinfection has increased, leading to growing product demand and expected continuous growth. Mutek Korea is a small and strong company that has localized optical systems used in inspection equipment for display manufacturing. It plans to expand into various fields such as semiconductors, defense, and bio.

An IBK Industrial Bank official stated, “We decided to invest because both companies are expected to contribute to strengthening the competitiveness of the domestic materials, parts, and equipment industry with their outstanding technology,” and added, “We will continue to actively discover companies possessing excellent domestic technology to support corporate growth and job creation.”

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