LF establishes subsidiary 'LF Investment' to foster innovative technology startups

LF Investment CI. / Photo by LF

[Asia Economy Reporter Song Seung-yoon] LF announced on the 19th that it has established a new subsidiary, 'LF Investment,' to discover and nurture startup companies with innovative technologies and build a co-growth system.

LF Investment is currently in the process of registering as a New Technology Business Financial Company with the Financial Supervisory Service. Once the procedure is completed, it plans to expand the scale of investment and begin full-scale investment and support activities for promising startup companies and venture businesses. On the 14th, LF established 'LF Investment' as a 100% subsidiary (with a capital of 11 billion KRW) to register as a New Technology Business Financial Company.

LF Investment plans to discover and invest in platform companies or startups based on digital and tech, as well as various lifestyle sectors of LF such as fashion, beauty, e-commerce, and food. Based on areas that can create synergy with LF, it will strengthen the value chain of existing businesses and foster new future businesses. Through investment operations aimed at coexisting with venture companies and new technology companies, it also plans to contribute to creating a virtuous cycle ecosystem for the domestic venture industry.

LF Investment appointed former DT&I Investment Vice President Jo Dong-geon as CEO. Jo Dong-geon, formerly of KT, served as the lead fund manager at M Ventures and DT&I Investment, leading investments in HeyDealer, Wadiz, Mobidays, and others. LF Investment has completed hiring a management team and compliance officer from the venture investment industry and plans to expand its workforce centered on screening officers in the future.

Oh Kyu-sik, Vice Chairman and CEO of LF, said, "In an infinitely competitive market that is rapidly changing, to secure differentiated corporate competitiveness and discover future growth engines, it is necessary to vigorously develop internally and also find and nurture outstanding innovative cases externally." He added, "Through long-term investment and comprehensive support for promising startups expected to create synergy effects, we will build a co-growth venture ecosystem."

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