Gyeongnam Province Supports Promising 4th Industrial Revolution Companies with 17.6 Billion KRW 'Smart New Deal Innovation Industry Fund'

Formation of 'Smart New Deal Innovation Industry Investment Association' at Gyeongnam Technopark on the 1st

Gyeongsangnam-do is forming a 17.6 billion KRW-scale 'Smart New Deal Innovative Industry Investment Association' at Gyeongnam Technopark on the 1st. [Image source=Gyeongsangnam-do]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] On the 1st, Gyeongsangnam-do signed a business agreement at Gyeongnam Technopark to establish the 'Smart New Deal Innovative Industry Investment Association.'

At the signing ceremony, Park Jong-won, Deputy Governor for Economic Affairs of Gyeongsangnam-do, along with Noh Choong-sik, Director of Gyeongnam Technopark, Choi Young-sik, Head of NH Nonghyup Bank Gyeongnam Headquarters, Kim Young-won, Vice President of BNK Gyeongnam Bank, Cho Guk-hyung, CEO of Gyeongnam Venture Investment, and Seo Young-woo, CEO of Zephyrus Lab, attended.

The parties to the agreement agreed to discover and nurture promising startups and venture companies leading the 4th industrial revolution in the land and transportation sector, aiming to create local jobs and secure a growth foundation for innovative companies.

The 'Smart New Deal Innovative Industry Investment Association' was finally selected as a fund manager by Gyeongnam Venture Investment and Zephyrus Lab in the second regular investment project of the Korea Fund of Funds last May, and will be raised with a total scale of 17.6 billion KRW.

The Korea Fund of Funds will invest 10 billion KRW, the province 2 billion KRW, and NH Nonghyup Bank, BNK Gyeongnam Bank, Jeju Free International City Development Center, and Jerrirus Equity Partners will participate in the investment.

The investment association is a fund that invests in small and venture companies possessing technology in the land and transportation industry and related industries. It is expected to be able to invest in a wide range of fields linked to the province's key strategic goals such as building a 5G-based manufacturing metaverse, establishing a Gyeongnam-type hydrogen economy innovation platform, constructing a transportation network in western Gyeongnam, creating a smart logistics city, and building the western Gyeongnam G-City.

Deputy Governor Park said, "The province has been striving for national balanced development through regulatory free zones, Gyeongnam-type New Deal, and the Busan-Ulsan-Gyeongnam megacity," adding, "We hope that through this fund, companies related to land and transportation innovation will grow and serve as a stepping stone to revitalize the local economy."

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