GS Construction Establishes Corporate-Led VC with 13 Billion KRW Investment

[Asia Economy Reporter Kim Hyemin] GS Engineering & Construction announced on the 30th that it has invested 13 billion KRW to establish a 100% subsidiary corporate venture capital (CVC) firm, 'XPLOR INVESTMENT.'

XPLOR INVESTMENT will not only focus on discovering, investing in, nurturing, and supporting new technology venture companies in the construction industry and related sectors that can create synergy with GS Engineering & Construction, but also promote these activities in non-construction sectors.

GS Engineering & Construction explained that the appointed CEO, Jonghoon Lee, began his venture capital career in 2007 and has experience managing SK Group's CVC funds as well as operating a semiconductor strategic fund jointly invested by Samsung Electronics and SK Hynix. CEO Lee also oversaw fund management, investment, and accelerating operations as the Chief Investment Officer at Lotte Ventures, the CVC of Lotte Group.

Heo Yunhong, Head of the New Business Division, stated, "GS Engineering & Construction must transform into an innovative company by seeking new opportunities through open innovation in collaboration with startups and venture capitals while advancing existing new businesses. Through this, both startups and GS Engineering & Construction will be able to become leading sustainable growth companies in Korea."

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