Chairperson Kim Byung-hwan visited Silicon Valley in the United States to meet with global investors and introduced our government's efforts to supply venture capital.
The Financial Services Commission stated that Chairperson Kim met with domestic and international investors and U.S. corporate venture capital (CVC) firms to inform them of this government policy from the 23rd to the 24th in Silicon Valley.
On the 23rd, Chairperson Kim attended the KDB Next Round event hosted by the Korea Development Bank and conveyed to global investors that he hopes to establish a close network between innovative entrepreneurs and investors from Korea and the United States for a cooperative relationship that fosters mutual growth. Chairperson Kim also noted that the Korean government is reviewing plans to reform the operational regulations of securities firms and rationalize the risk-weighted asset regulations of banks to encourage the active supply of venture capital by financial companies. He added, "We are supporting the nurturing of advanced industries such as AI, biotech, and secondary batteries by establishing a 50 trillion won fund for advanced strategic industries at the Korea Development Bank."
The next day, Chairperson Kim attended a U.S. CVC meeting. At the meeting on the 24th, Chairperson Kim discussed ways to build a cooperative investment network between Korea and the United States concerning venture capital, from investment target issuance to investor fund recovery. Chairperson Kim promised, "I will enhance the overseas expansion capabilities of policy financial institutions, such as the Korea Development Bank and the Industrial Bank of Korea, to play a key role in the Korea-U.S. network."
On this day, Chairperson Kim also held a meeting with Anthony Lin, CEO of Intel Capital, the world's largest CVC. During the meeting, Chairperson Kim listened to CEO Lin's opinions on Intel Capital's investment strategy and recent technology trends.