Ministry of Land, Infrastructure and Transport Forms 17.6 Billion KRW Self-Fund to Support SMEs and Venture Companies
Plan to Raise a Total Fund of 300 Billion Won by 2027
The Ministry of Land, Infrastructure and Transport announced on the 24th that it has established the second sub-fund of the 'Land, Infrastructure and Transport Innovation Fund' to support the innovative growth of small and venture companies possessing promising technologies in the land and transportation sector.
The second sub-fund, 'Smart New Deal Innovation Industry Investment Association,' was created with a total of 17.6 billion KRW, including 10 billion KRW in government investment and 7.6 billion KRW in private investment.
The management companies selected to lead the second sub-fund are 'Gyeongnam Venture Investment' and 'Zephyrus Lab.' Going forward, they plan to discover and focus investments on small and venture companies with innovation and technological capabilities that can lead innovation in promising land and transportation fields.
Companies seeking investment can contact Gyeongnam Venture Investment and Zephyrus Lab.
The first sub-fund, 'Pathfinder Land, Infrastructure and Transport Innovation Investment Association,' established last September, was decided at a scale of 17 billion KRW. So far, about 11.3 billion KRW has been invested in 11 companies.
Next year, the government plans to secure 20 billion KRW in government investment as a budget to additionally raise more than 34 billion KRW for the Land, Infrastructure and Transport Innovation Fund. The goal is to establish a total fund of 300 billion KRW by 2027.
Hot Picks Today
"Now Our Salaries Are 10 Million Won a Month" Record High... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Already Watching Closely..."Target Price Set at 970,000 Won" Only Upward Momentum Remains [Weekend Money]
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- Did Samsung and SK hynix Rise Too Much?... Foreign Assets Grow Despite Selling [Weekend Money]
- "Chanel Open Run? I Get a Free Pass"... The World of the Top 0.1% That Money Alone Can't Enter [Luxury World]
Kim Heon-jeong, Policy Planning Officer at the Ministry of Land, Infrastructure and Transport, said, "What is most needed to revive small and venture companies is appropriate investment support for growth recovery," adding, "We hope the Land, Infrastructure and Transport Innovation Fund will become a solid growth foundation for small and venture companies in new land and transportation industries that have had difficulties securing funds."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
