JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) Jeju Special Self-Governing Province announced April 15 that it will establish a five-year plan to nurture venture capitals and provide tailored-support.

The province held a meeting with the venture capitals and agreed to support marketing activities, enhance cooperation and obtained their opinions. It will conduct researches on 96 provincial venture capitals to gain basic data.

The five-year plan will be established by September by gathering the opinions of venture capitals during the survey.

The province will select two companies to provide tailored-support on technology advancement and marketing and one company to support its technology development including technology transfer and securing of the source technology.

The province will also hold expos to promote the products of venture capitals and a monthly academy will be run to enhance the capacities of workers at venture capitals. It will hold regular meetings with the venture capitals to increase their network. The project cost for 2015 amounts to KRW 200 million.

The province will form a task force team to support venture capitals in a more detailed manner.

"We will strive to revitalize the regional industries by nurturing venture capitals that have strong potentials in creating jobs and contributing to the regional growth," said a provincial official.

khc@yna.co.kr

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