Korea Development Bank (KDB) said on Jan. 5 that it raised a total of 3.44 trillion won for three major policy funds last year, surpassing its targets.
Korea Development Bank (KDB) noted that the year-end amounts raised for all three major policy funds—the Innovation Growth Fund, the Semiconductor Ecosystem Fund, and the Nuclear Power Industry Growth Fund—exceeded their targets last year.
The Innovation Growth Fund raised 3.14 trillion won against a 3 trillion won target, achieving 104.7%. The Semiconductor Ecosystem Fund (105.6%) raised 190 billion won against a 180 billion won target, and the Nuclear Power Industry Growth Fund (110.0%) raised 110 billion won against a 100 billion won target. With additional fundraising open through Mar., the final amounts are expected to increase.
Korea Development Bank (KDB) has exceeded its fundraising targets every year since launching its policy investment program in 2018. The fiscal multiplier effect—calculated by dividing total policy fund commitments (32.5 trillion won) by fiscal contributions (2.5 trillion won)—was tallied at 13 times. KDB said, "Even amid a contraction in the exemplary capital market due to the Homeplus Co. situation last year, we drew participation from strong managers and private investors by analyzing market demand."