Gyeonggi-do Invests 60 Billion KRW in Content Development and More... Establishes 'Nexid Fund'
Gyeonggi Province is investing 60 billion KRW to foster the content industry.
On the 14th, Gyeonggi Province announced that it recently established two funds, ‘Nexid Fund No. 5’ and ‘Nexid Fund No. 6’, each worth 30 billion KRW, in collaboration with the Gyeonggi Content Agency.
Gyeonggi Province will recruit fund management companies for the investment project until the 29th of this month, select the management companies in June, and begin full-scale investments starting in July.
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Kim Gwi-ok, Director of the Content Industry Division of Gyeonggi Province, stated, "This will serve as a foothold to enhance the survival rate of promising content companies through proactive investment and provide opportunities for a sustainable growth environment. We will actively strive to restore investment sentiment, which has been weakened due to the economic downturn, through the organic supply of Gyeonggi Province’s specialized policy funds in the content sector, and provide new opportunities to content companies in the province through financial support."
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