Sooeun Establishes Investment Fund for Core Strategic Industries Including Semiconductors and Batteries

Investment of 100 Billion KRW... Targeting Final Fund Size of Over 500 Billion KRW

[Asia Economy Reporter Yu Je-hoon] The Export-Import Bank of Korea announced on the 23rd that it will invest 100 billion KRW to establish a fund focusing on key strategic industries such as semiconductors, batteries, bio, and future cars.

The bank previously designated 48 items in the semiconductor, battery, bio, and future car sectors as key strategic industries, reflecting government policies to secure future growth engines such as the government's 'Big 3 Focused Development Plan' and the 'Korea-US Partnership.'

The bank plans to set the final fund size at over 500 billion KRW. Additionally, it will expand investment targets to upstream and downstream companies related to the supply chains of key strategic industries, proactively responding to supply chain risk management and diversification, which have recently emerged as core economic security issues.

Visiting Governor Bang Moon-kyu of the bank stated, "In preparation for the post-COVID-19 era, we must establish a K supply chain to stabilize the global supply chain of our companies and expand exports centered on innovative growth industries such as the Big 3. It is necessary to foster advanced industries like semiconductors and batteries, secure key raw materials and components of related industries, expand overseas production bases, and pursue mergers and acquisitions (M&A) of overseas companies holding core technologies to respond to and diversify supply chains."

The bank's global key strategic industry investment project is scheduled to be announced on the bank's website today. After selecting the asset management company and obtaining approval from the Minister of Strategy and Finance, the bank aims to finalize the fund formation within this year.

Meanwhile, separately, the bank plans to additionally invest 100 billion KRW in the first half of this year to support overseas expansion of small and medium-sized enterprises and mid-sized companies, as well as investments in the environmental, social, and governance (ESG) sectors. Furthermore, including support of 6.5 trillion KRW for key strategic industries this year, the bank plans to supply a total of 14 trillion KRW in financing to innovative growth sectors.

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