JEJU-DO < invest Korea

JEJU, Oct 3(newsis) -- Jeju Province made an official announcement of the 2nd release of 'Jeju 4th industrialization fund', developed to embrace thriving startup ecosystem for youth employment growth. They also added that this 'Jeju 4th industrialization fund' was finally approved to be part of joint venture capital financing projects for 'fund of funds (FOF)' this time. Jeju has already been running the initial program, raised last September in 2018.

The total investment volume appears to reach over KRW 1.5 billion: roughly 2 billion locally sourced and 9 billion from Korea Venture Investment Corp, in total.

Prospective investees are required to be SMEs and startups, whose main office is in Jeju and must be doing business in core technology, applied engineering technology or services with high potential.

The authority says "The fund is a real benefit to startups, especially who are financially struggling at an early stage of business. I firmly believe that the financing program would become the pump primer for the thriving startup ecosystem in Jeju."

Source Text

Copyrights NEWSIS. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: newsis (Oct 3, 2019)