Korea Development Bank Supports 11 Asset Management Firms for Recovery Market Revitalization Fund

On the 10th, the creditor meeting of Taeyoung Construction was held at the headquarters of the Korea Development Bank in Yeouido, Seoul. Photo by Younghan Heo younghan@

On the 24th, Korea Development Bank announced that a total of 11 companies (worth 1.18 trillion KRW) applied after the proposal submission deadline on the 22nd, following the announcement of the 'Plan for Selecting Fund Managers for the Recovery Market Activation Support Fund' on the 20th of last month.

KDB plans to select entrusted fund managers in February through a screening process for the applicants, to manage M&A funds worth 300 billion KRW (up to 6 funds) and secondary funds worth 200 billion KRW (2 funds).

A KDB official stated, "Through fund formation and capital supply, we will contribute to revitalizing the sluggish venture recovery market and restoring the virtuous cycle of venture capital." He added, "We will continue to invest to activate the venture capital market by listening closely to government policies and market voices."

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