Gyeonggi-do Establishes 68 Billion KRW Fund for 'Digital Transformation and SoBuJang' Sectors

First Investment Project After Launch of 'Gyeonggi-do Type Mo Fund'
Discovering Investment Companies in Related Fields from September... Promoting Investment and Development

[Asia Economy DB]

[Asia Economy Reporter La Young-cheol] Gyeonggi Province announced on the 6th that "this year, as the first investment project of the 'Gyeonggi Province-type mother fund,' it will form a total of 68 billion KRW scale 'Digital Transformation Fund' and 'Materials, Parts, and Equipment Fund' to actively invest in companies related to these fields within the province."

According to the province, the 'Digital Transformation Fund' was formed with 2 billion KRW invested from the mother fund and attracted 35 billion KRW from private capital and others, exceeding the initial formation target of 20 billion KRW to reach a total of 37 billion KRW.

Starting from September, it will focus on discovering investment targets in digital transformation sectors such as cloud, Internet of Things (IoT), artificial intelligence (AI), and big data solutions, with Hyundai Investment Partners Co., Ltd. managing the fund.

The 'Materials, Parts, and Equipment Fund,' which will invest in companies in the materials, parts, and equipment sector, was formed with 3 billion KRW invested from the mother fund and attracted 28 billion KRW from private capital and others, totaling 31 billion KRW.

Platinum Technology Investment Co., Ltd. will manage this fund and begin discovering investment targets focusing on related companies starting in September.

The provincial financial department head stated, "The Gyeonggi Province-type mother fund is a project that marks the beginning of a virtuous cycle structure that reinvests existing investment resources back into companies," adding, "We will discover companies in the digital transformation and materials, parts, and equipment sectors to expand investment opportunities and support the revitalization of related industries and corporate growth."

Meanwhile, as a campaign pledge of the 8th local government, the province plans to establish the 'Gyeonggi G-Fund' worth 1 trillion KRW by 2026 to invest in startups, carbon neutrality, and future strategic industries.

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