Gyeongsangnam-do Opens New Era of Venture Investment, Launches 64.7 Billion KRW Regional Venture Fund

Deputy Minister Kim Seong-seop attended the Gyeongnam Regional Innovation Venture Fund formation ceremony held on the 31st at the Grand Mercure Ambassador Hotel in Changwon, organized by the Ministry of SMEs and Startups, and announced that the 'Gyeongnam Regional Innovation Venture Fund,' which focuses on investment outside the metropolitan area, has completed recruiting investors and is starting full-scale operations.

The 'Gyeongnam Regional Innovation Venture Fund' was established as a mother fund with a scale of 64.7 billion KRW, investing primarily in venture funds focused on the Gyeongnam region. Major investors include the Korea Fund of Funds contributing 15 billion KRW, KDB Industrial Bank investing 32 billion KRW, BNK Gyeongnam Bank with 10 billion KRW, Gyeongsangnam-do Province contributing 5 billion KRW, and NongHyup Bank investing 2 billion KRW. The fund plans to start investment projects from the first half of 2025 and aims to raise venture funds worth 140 billion KRW over the next three years.

Deputy Minister Kim Seong-seop stated, “The launch of the Gyeongnam Regional Innovation Venture Fund will be a turning point for expanding investments in innovative startups in traditional manufacturing industries such as shipbuilding and machinery, as well as advanced industries like aerospace and next-generation nuclear power in Gyeongnam.” He added, “From 2025, the Ministry of SMEs and Startups will actively work to establish a 'Local Era Venture Fund' worth 1 trillion KRW over three years to spread investment from the metropolitan area to regional areas.”

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