GS Retail Invests 3 Billion KRW in Agriculture and Livestock Fund to Strengthen ESG Management

Participation in 21 Billion KRW 'Hyundai-GS Retail Agro3 Fund'

[Asia Economy Reporter Jo In-kyung] GS Retail announced on the 4th that it is participating as an investor in the 'Hyundai-GS Retail Agro-Bio Fund No. 3,' managed by Hyundai Technology Investment, to discover and support outstanding agricultural, forestry, and livestock venture companies.

The investment amount totals 21 billion KRW, with GS Retail contributing 3 billion KRW, and the Agricultural Policy Insurance Finance Service and Hyundai Technology Investment each contributing 9 billion KRW.

This fund will be operated for eight years with the purpose of discovering and investing in about 20 promising agricultural, forestry, and livestock venture companies that practice sustainable management through ESG-enhancing activities such as eco-friendly and bio (BIO) initiatives.

Separately from its participation in the fund, GS Retail plans to pursue mutual growth by handling products from the outstanding companies discovered through this fund at approximately 16,000 offline stores and online malls, as well as supporting exports.

Additionally, considering that agricultural, forestry, and livestock venture companies mainly establish their growth bases outside the metropolitan area, participation in this fund is expected to help resolve regional imbalances through local job creation.

Lee Seong-hwa, Head of New Business Division at GS Retail, stated, "Hyundai Technology Investment has been selected as the managing partner for numerous government-led fund projects and is recognized as an investment specialist company with extensive experience in managing agri-food funds, which is why we participated in forming this fund." He added, "We will strengthen ESG management by discovering excellent local companies and expanding various investment supports and sales channels."

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