Hyosung Launches 'Hyosung Ventures' for Investment in Materials and Components Startups

[Asia Economy Reporter Oh Hyung-gil] Hyosung Co., Ltd. announced on the 23rd that it will officially launch its first corporate venture capital (CVC) 'Hyosung Ventures' with a capital investment of 10 billion KRW. Hyosung Ventures completed its registration as a new technology finance company on the same day.

Hyosung Ventures plans to invest in startups in the materials, parts, and equipment sectors that can maximize synergy with Hyosung's core businesses, actively pursuing the localization of core material source technologies.

In addition, in the era of digital transformation (DX), it will also challenge new areas such as information and communication technology (ICT) and data. The policy is to contribute to building a co-growth ecosystem with invested companies by discovering and nurturing companies with new technologies.

Hyosung Chairman Cho Hyun-joon emphasized the importance of agile management in response to rapid digital transformation, stating, "We must quickly, flexibly, and efficiently embrace new data-centric technologies and trends."

The inaugural CEO of Hyosung Ventures is Kim Cheol-ho, former Vice President of Hyosung's Strategy Headquarters. CEO Kim is an expert with extensive experience in investment banking and investment industries, having worked at Iljin Investment Partners, Stick Investment, and Deutsche Bank.

A Hyosung Ventures official said, "We plan to proceed with consultations with related departments and affiliates to raise funds as soon as possible."

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