Korea Development Bank Expands Investment in Innovative Growth "Focusing Capabilities on Promoting Innovation"

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[Asia Economy Reporter Yoo Je-hoon] Korea Development Bank (KDB) is significantly increasing the scale of fund formation and direct investment support to secure future new growth engines.

According to KDB on the 14th, as of the end of last year, the total size of innovation growth-related funds under management reached 33.6 trillion KRW, an increase of about 32% compared to the end of the previous year (25.4 trillion KRW).

Specifically, KDB is strengthening a self-sustaining New Deal investment ecosystem through the policy-type New Deal Fund (20 trillion KRW), and by forming the Growth Support Fund (9.9 trillion KRW), it has laid the foundation for scaling up innovative companies, ushering in the era of the first single venture fund of 500 billion KRW in Korea.

Direct investment in promising innovative companies is also being actively promoted. The investment performance of KDB’s Venture Finance Division increased nearly fourfold from 125.4 billion KRW in 2019 to 575.3 billion KRW last year, establishing itself as the largest venture investment institution in Korea.

In addition, KDB has laid the groundwork to support the global expansion of domestic startups by establishing and commencing operations of KDB Silicon Valley, and operating a venture desk in Singapore, thereby building a global venture network.

KDB stated, "We will focus all our capabilities on promoting Korea’s economic innovation growth by continuously pursuing large-scale fund formation, expanding financial support for scale-up and future technology investments, expanding and operating venture support and nurturing platforms to revitalize the innovative startup ecosystem, and expanding the global venture network to broaden venture territories."

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