Gyeongnam Province Attracts 17.6 Billion Won from Mother Fund... Supports Investment in 'Startup Companies'

Final Selection for the 2nd Regular Round of Korea Fund of Funds in the Land, Infrastructure and Transport Innovation Sector on May 23

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 26th that it has been finally selected in the 2nd regular public offering of the Korea Fund of Funds and will establish a KRW 17.6 billion fund in the field of national land and transportation innovation.

This fund will be jointly operated by Gyeongnam Venture Investment and Zephyrus Lab, established through investment by Gyeongsangnam-do, with Gyeongsangnam-do, NongHyup Bank, and Gyeongnam Bank participating as investors.

The fund to be established this time plans to discover and invest in companies by linking the 10 major areas of national land and transportation, such as smart construction, logistics, urban development, and green architecture.

Last year, the province formed the 'G-Strong Innovation Startup Fund' with KRW 5 billion and the 'Gyeongnam Reverse Innovation Startup Investment Association' with KRW 20 billion as startup investment funds, investing KRW 6.3 billion in 15 companies.

Kick the Hurdle Co., Ltd., which received an investment of about KRW 4 billion, has grown rapidly since its founding, achieving more than tenfold sales and hiring over 30 new employees.

In particular, this year, a KRW 22 billion Southeast region Green New Deal fund will be formed in the second half of the year to invest in the growth of Green New Deal companies encompassing Busan, Ulsan, and Gyeongnam.

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