Kyobo Life Insurance Signs Industry-Academic Cooperation Agreement with Hanyang University to Foster Startups

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance announced on the 13th that it has signed an industry-academic cooperation business agreement (MOU) with Hanyang University to discover startup companies and promote startup culture.

The two organizations will promote sharing infrastructure and personnel exchange necessary for startups, jointly developing and supporting the operation of startup programs, establishing a mutual linkage system to support promising startups, and cooperating in fundraising and investment attraction for startups.

Kyobo Life Insurance plans to operate various programs to jointly select and nurture startups with Hanyang University’s Startup Support Group and create an industry-academic cooperation startup ecosystem. The plan is to commercialize innovative ideas and technologies and build a successful corporate venture capital (CVC) ecosystem led by enterprises.

Since 2019, Kyobo Life Insurance has been operating the open innovation platform 'InnoStage,' building a collaborative ecosystem with various startups. In addition, it plans to promote the CVC business together with Kyobo Securities and review investments in areas such as culture, education, and healthcare.

Lee Cheol, Executive Director of Digital Transformation Support at Kyobo Life Insurance, said, "We hope this will be an opportunity to reflect the ideas of university students with creative business models in the field and for Hanyang University to utilize Kyobo Life Insurance’s infrastructure to produce tangible results."

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