Korean Military Mutual Aid Association, LIG Nex1, and IBK Capital Form 80 Billion KRW Defense Innovation Fund
Military Mutual Aid Association invests a total of 40 billion KRW
Joint operation by LIG Nex1 and IBK Capital
Blind investment in aerospace, robotics, AI, and more
The Military Mutual Aid Association will invest 40 billion KRW in the ‘LIG Nex1·IBK Capital Defense Innovation New Technology Investment Fund No. 1.’
According to the Military Mutual Aid Association on the 14th, this defense innovation fund is worth a total of 80 billion KRW. The Military Mutual Aid Association will contribute 40 billion KRW, LIG Nex1 15 billion KRW, and IBK Capital 25 billion KRW.
On the 14th, the Military Mutual Aid Association held a formation ceremony for the 'LIG Nex1·IBK Capital Defense Innovation New Technology Investment Fund No. 1' at the Military Mutual Aid Association's main conference room in Gangnam-gu, Seoul. (From left) Shin Ik-hyun, President of LIG Nex1; Jeong Jae-gwan, Chairman of the Military Mutual Aid Association; Ham Seok-ho, President of IBK Capital. Photo by Military Mutual Aid Association
View original imageLIG Nex1 and IBK Capital will serve as co-managers and plan to selectively invest in companies possessing advanced defense and Fourth Industrial Revolution-related technologies. They will primarily invest in advanced projects applicable to the defense industry, such as aerospace, robotics, and artificial intelligence, in the form of a blind fund.
The Military Mutual Aid Association judged that LIG Nex1, a comprehensive defense industry company, will utilize its defense network to identify promising investment targets early, while IBK Capital will manage the fund stably with its know-how from investing in various small and medium-sized enterprises.
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Jung Jae-kwan, Chairman of the Military Mutual Aid Association, stated, “We will strive to ensure that this defense innovation fund investment not only contributes to enhancing the Republic of Korea Armed Forces’ capabilities but also generates high returns to expand member welfare.”
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