"Fostering Regional Venture Companies"... Posco and KDB Join Forces

Collaboration to Discover and Support the Growth of Promising Startups
Investor Relations Held for Five Ventures in Secondary Batteries, Bio, and More

Posco Holdings is collaborating with Korea Development Bank to attract investment and support the growth of venture companies outside the Seoul metropolitan area.

On the 14th, POSCO Holdings signed a business agreement with the Korea Development Bank at Ground Gwangyang to revitalize the local venture ecosystem. From the third person on the right in the photo are Jutae Lee, President of POSCO Holdings, and Bonghee Lee, Senior Executive Vice President of Korea Development Bank. Photo by POSCO Holdings

Posco Holdings announced on May 14 that it had signed a business agreement with Korea Development Bank at Ground Gwangyang, South Jeolla Province. The two companies agreed to cooperate in revitalizing the venture ecosystem and promoting balanced regional development by eliminating disparities between regions.

The signing ceremony was attended by Ju-tae Lee, President and CEO of Posco Holdings; Jae-yoon Ko, Head of Posco Gwangyang Steelworks; executives and employees of Posco Group; Bonghee Lee, Senior Executive Vice President of Korea Development Bank; as well as representatives from venture companies, venture investors, and related startup organizations—a total of over 110 participants.

This agreement was established to discover promising local startups and support their continuous growth by combining Posco Group’s venture nurturing capabilities with Korea Development Bank’s financial support infrastructure.

Through this agreement, Korea Development Bank will consider direct investment and financing for local startups invested in or recommended by Posco Group. In addition, Korea Development Bank will help attract investment for companies recommended by Posco Group through its region-specific venture platform. The two organizations will also join forces in linking local startup incubation programs and discovering promising startups.

Immediately following the signing ceremony, an investor relations (IR) event was held for five regional venture companies recommended by Posco Group. As part of the agreement’s main initiatives to support investment attraction, five promising startups in the fields of secondary battery materials, bio, and robotics—either currently located at or intending to move into Ground Gwangyang operated by Posco Group—participated in the event.

President Ju-tae Lee stated, "Through 'Change Up,' Posco Group's open innovation venture platform, we have not only discovered new businesses but also nurtured venture companies in our core business areas such as steel and secondary battery materials, thereby strengthening links with our strategic businesses. We will use this collaboration with Korea Development Bank as an opportunity to further solidify the foundation for supporting the growth of regionally based venture companies, contributing to the revitalization of the local economy and the country’s balanced development."

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