KT&G and Mirae Asset Form 'New Growth Investment Fund No.1' Worth 40 Billion KRW
Focused Investment in Healthcare and ESG... Establishing a Foundation for Discovering New Business Opportunities
[Asia Economy Reporter Eunmo Koo] KT&G announced on the 11th that it formed a strategic matching fund called ‘New Growth Investment Association No.1’ with Mirae Asset on the 7th to discover and nurture new businesses.
This fund was launched with a total of 40 billion KRW, with KT&G and Mirae Asset each investing 20 billion KRW. Depending on the performance of the No.1 fund, follow-up funds will also be established to expand the foundation for discovering future new growth businesses.
The fund will be managed by Mirae Asset Capital, with an investment period of 4 years and a duration of 10 years. KT&G and Mirae Asset Capital will cooperate mutually in reviewing new business sectors, discovering investment targets, and executing investments.
KT&G’s strategy through the strategic matching fund with Mirae Asset is to seek and cultivate the company’s future growth engines. The main investment areas include healthcare, ESG (environment, social, governance), and new growth industries, aiming to maximize synergy with existing businesses while securing opportunities to enter new business fields.
Woongkyu Lee, Head of Growth Investment at KT&G, explained, “In a rapidly changing business environment, we have formed a strategic alliance with Mirae Asset to invest in new growth industries to promote sustainable growth and discover new business sectors. We will actively pursue investments in new business areas while strengthening the capabilities of existing businesses.”
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KT&G is making multifaceted efforts to secure new growth engines, including expanding venture fund contributions and equity investments in venture companies. To date, KT&G has invested in a total of 12 venture companies with an investment scale of approximately 27.5 billion KRW, and the cumulative amount contributed to venture funds is about 43 billion KRW.
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