Sangun, Announcement of the 'Global Supply Chain Fund' Investment Project

Industrial Bank of Korea announced on the 21st the launch of the 'Global Supply Chain Fund' investment project to reduce the external dependence of domestic small and medium-sized enterprises (SMEs) and mid-sized companies on supply chains and to promote overseas expansion. This is a follow-up measure to the Financial Services Commission's 'Comprehensive Export Finance Support Plan' announced last August.

This investment project focuses on overcoming the difficulties faced by domestic SMEs and mid-sized companies in the global supply chain amid worsening external conditions such as the spread of country-centric industrial policies and international security issues. It plans to provide necessary funds to companies in materials, parts, and equipment sectors responsible for key supply chain items, as well as companies pursuing local expansion in export countries or building production bases in third countries.

Industrial Bank of Korea will serve as the lead institution for this project and plans to establish a fund worth a total of 500 billion KRW. The Industrial Bank of Korea and the Korea SMEs and Startups Agency will participate as co-investors, each contributing 100 billion KRW.

Industrial Bank of Korea will close proposal submissions on January 25 next year and plans to select three fund managers by March next year through a sector-specific review process.

Industrial Bank of Korea stated, “The Global Supply Chain Fund will contribute to strengthening the competitiveness of domestic SMEs and mid-sized companies by reducing external dependence on intermediate goods and responding to trade regulations,” adding, “As Korea’s representative policy financial institution and a major market maker, we will continue to play a leading role in the venture capital market in line with government policies.”

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