Korea Financial Group Supports Youth Startups... Korea Investment Accelerator Makes First Investment

[Asia Economy Reporter Ji Yeon-jin] Korea Investment Financial Group's holding company, Korea Financial Group, announced on the 17th that it has established Korea Investment Accelerator (CEO Baek Yeo-hyun), which provides financial investment and management consulting for young enterprises, and will begin its first investment. An accelerator is a specialized institution designated through the Ministry of SMEs and Startups' review that discovers early-stage startups within three years of business commencement and provides seed investment, business space, mentoring, and other startup incubation services.

Korea Financial Group established Korea Investment Accelerator in December last year with a capital injection of 20 billion KRW. The goal is to actively utilize the business capabilities accumulated over many years in the corporate finance (IB) sector to support young enterprises and take the lead in creating substantial social value. Korea Investment Accelerator plans to form a fund worth 15 billion KRW annually to invest in young enterprises. This is among the largest accelerator funds.

On the 15th, it completed the formation of the 15 billion KRW scale ‘Kantoo Bareundonghaeng Sherpa No.1’ fund. To embody the purpose of responsible investment and social contribution, the fund was composed solely of capital from affiliates of Korea Investment Financial Group without government policy fund input.

A startup incubation space has also been prepared near Teheran-ro in Seoul, where startups and venture companies are concentrated. Named ‘Platform 365,’ this space aims to be a one-stop platform that supports young entrepreneurs in realizing their dreams and goals 365 days a year with unlimited possibilities, providing practical and systematic support from startup to follow-up investment. It spans two floors with an area of 1,600㎡ (approximately 480 pyeong), accommodating up to 30 companies, and offers all facilities free of charge. In addition to office space, it includes shared meeting rooms, a large conference hall, and ‘Focus Rooms’ for single-person companies. There are plans to expand by an additional floor (about 200 pyeong) to provide a home for more young enterprises in the future.

Efforts are also being made to expand networks for discovering and supporting the growth of investee companies. Memorandums of Understanding (MOUs) have been signed with over 50 startup-related organizations nationwide, and consortia have been formed with global investors from the U.S., Japan, and other countries. Through this, they plan to assist young enterprises in overseas expansion and provide multifaceted support such as market research and business model development. Additionally, in collaboration with Korea Investment & Securities and Korea Investment Partners, they are preparing a professional mentoring program by inviting successful entrepreneurs who have grown mid-sized and small enterprises.

The new CEO of Korea Investment Accelerator is Baek Yeo-hyun, Vice President in charge of social contribution at Korea Financial Group. With over 30 years of field experience and expertise in the venture industry, including leading Korea Investment Partners, Baek is expected to greatly contribute to supporting young enterprises. CEO Baek stated, “We plan to discover promising companies through domestic and international startup-related organizations and investor networks and support their growth and overseas expansion.”

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