The Ministry of SMEs and Startups (Minister Han Sung-sook, hereinafter referred to as the Ministry of SMEs and Startups) announced at the inauguration ceremony of the 'Gangwon Strategic Industry Venture Fund' held at the Chuncheon Sky Convention on the 23rd (Tuesday) that the Gangwon regional fund, which focuses on investing in the Gangwon Special Self-Governing Province, has completed recruiting investors and will begin full-scale operations.
The '25 Regional Mother Fund, which is being promoted to revitalize regional venture investment, will be established in Gangwon, Gyeongbuk, Busan, and Chungnam with a total scale of 400 billion won.
This "Gangwon Strategic Industry Venture Fund" is the third mother fund to be established, following those established in South Chungcheong Province and Busan. The mother fund will provide a 60 billion won in seed funding, and Gangwon Province, seven local governments (Chuncheon, Wonju, Gangneung, Taebaek, Samcheok, Hongcheon, and Hoengseong), and Nonghyup Bank will participate as investors. This large-scale mother fund, with a total value of 105.6 billion won, will initiate full-scale investment in Gangwon-do local companies and seven key future industries.
The plan is to establish a venture fund worth 150 billion won, focusing on Gangwon Province, by finalizing the investment areas through the operating committee in September and starting the private fund investment business in October.
Lim Jeong-wook, Director of the Startup and Venture Innovation Office at the Ministry of SMEs and Startups, said, “Gangwon is the center of the domestic tourism and leisure industry and a region with growth potential in advanced strategic industries,” and added, “Through this ‘Gangwon Strategic Industry Venture Fund,’ the Ministry of SMEs and Startups will actively support Gangwon’s seven future industries and ventures and startups to gain sufficient growth opportunities and take a leap forward.”
- See more related articles
You must be logged in to post a comment.