Korea’s corporate venture capital (CVC) firms and the government will club together to create a 8 trillion-won ($6.2 billion) venture fund for local startups by 2025.
Start-ups, which Korea hoped would show the way to a prosperous future, are in a slump. Direct investments by venture capital firms and so-called angel investors are down, and so are IPOs.
The government announced a legislative reform plan that will ease conditions that restrict the creation of corporate venture capital, which has not been possible under laws that prevent non-financial companies from owning financial companies
Korea JoongAng Daily Sitemap