Korea Development Bank and Korea Growth Investment Corporation Receive Applications from 16 Firms for 2nd Phase Delegated Management of Materials, Parts, and Equipment Fund

5.3 : 1 Competition Ratio
Asset Manager Selection by End of May, Fundraising Over 300 Billion KRW Within the Year

[Asia Economy Reporter Park Sunmi] Korea Development Bank and Korea Growth Investment Corporation announced on the 22nd that a total of 16 asset management companies applied for the proposal submission for the selection of the entrusted operators of the dedicated blind fund (2nd phase) for the materials, parts, and equipment sector, which closed on the 21st, showing a competition rate of 5.3 to 1.

Policy funds amounting to 270 billion KRW will be invested to promote the formation of a fund exceeding 500 billion KRW, which will be focused on companies related to the materials, parts, and equipment industry as well as semiconductor companies. Incentives will also be provided to private investors and entrusted operators.

KDB and Growth Investment Corporation plan to select three entrusted operators that align with the purpose of the fund formation through a swift and fair evaluation process by the end of May, and to establish a blind fund exceeding 300 billion KRW within the year. A KDB official stated, "By supplying venture capital to excellent companies in the materials, parts, and equipment sector, we will contribute to promoting self-reliance in the materials, parts, and equipment industry, expanding global supply chains, and advancing toward becoming a strong nation in this sector."

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