Shinhan Asset Management to Manage Asan Angel Fund (Update)

[Asia Economy Reporter Junho Hwang] Shinhan Asset Management has been entrusted with the management of the Asan Angel Fund, which honors the entrepreneurial spirit of Asan Jeong Ju-young, the founder of Hyundai Group, and leads youth entrepreneurship initiatives.

Shinhan Asset Management announced on the 15th that it had been selected as the entrusted management company for the Asan Angel Fund. Accordingly, Shinhan Asset Management will be responsible for consulting and entrusted management of the investment projects for the angel fund over the next three years.

The Asan Nanum Foundation is a public interest foundation launched in October 2011 to commemorate the 10th anniversary of the passing of Asan Jeong Ju-young, the founder of Hyundai. With a fund of 600 billion KRW, it carries out projects to spread entrepreneurial spirit, support youth startups, and strengthen the capabilities of social innovators. It also operates the startup support center Maru180 and, through the 'Jeong Ju-young Angel Investment Fund,' has invested in more than 900 startups to date.

Shinhan Asset Management was recognized in the selection process for its comprehensive capabilities, including a systematic operation process for venture investment, one of the industry's top-tier bond investment risk management systems, and utilization of Shinhan Financial Group's venture investment business network.

Lee Chang-gu, CEO of Shinhan Asset Management, emphasized, "Shinhan Financial Group has supported the growth of 18,000 innovative companies and contributed to the creation of more than 56,000 jobs over the past year," adding, "Through entrusted management of the Asan Nanum Foundation, we expect to create synergy in building a new incubating ecosystem that diversely supports the birth and growth of new enterprises."

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