Gyeonggi-do to Establish G-Fund Worth 150 Billion KRW This Year

Gyeonggi Province will establish a ‘G-Fund’ worth 150 billion KRW this year.

The G-Fund is a fund (investment association) created by Gyeonggi Province to serve as seed money for investments, aiming to expand investment opportunities for small and venture companies within the province.

On the 27th, Gyeonggi Province announced plans to establish a fund totaling 150 billion KRW this year to invest in startups, carbon neutrality, and future growth sectors.

Gyeonggi Province has secured an initial budget of 10.5 billion KRW for the G-Fund and a 10 billion KRW contribution to the main fund of the Gyeonggi Economic Science Promotion Agency.

The province is currently publicly recruiting institutions to manage the fund through EasyBiz and the Korea Venture Capital Association.

The recruitment of fund managers will continue until March 14, and after evaluation, five companies will be selected as preferred negotiation candidates. Following the securing of additional investors and finalizing details such as regulations, the fund will be established, and efforts to discover and invest in companies will commence in earnest.

Gyeonggi Provincial Government

Earlier, in February last year, Gyeonggi Province Governor Kim Dong-yeon declared at the ‘Gyeonggi Province G-Fund Vision Declaration’ that "we will pursue the establishment of a fund worth 1 trillion KRW by 2026."

Kim Kwang-deok, Director of Regional Finance at Gyeonggi Province, stated, "There is a need to respond to the shrinking venture investment sentiment in the private sector and the intensified competition for matching fund investors (LPs). Gyeonggi Province will take the lead in establishing the G-Fund to build a foundation for attracting investments and provide a stepping stone for growth opportunities to small and venture companies within the province."

Meanwhile, this year, Gyeonggi Province, together with the Gyeonggi Economic Science Promotion Agency, will hold more than 20 regional investment briefing sessions. In addition, investment promotion activities (IR) will be conducted concurrently to provide consulting tailored not only to investors but also to the perspectives of growing companies.

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