The Chungnam Regional Fund, which focuses on investing in corporations in Chungcheongnam-do, has been established with a scale of 1.011 billion won and will begin operations. The government plans to launch a self-fund investment project starting in October, aiming to create a venture fund of 150 billion won over the next three years.
The Ministry of SMEs and Startups announced on the 20th that it will hold a ceremony to establish the 'Chungnam Corporate Growth Venture Fund' at Sono Belle Cheonan and will begin full-scale operations.
The 'Chungnam Corporate Growth Venture Fund' is a venture fund with a scale of 1.011 billion won that invests in a venture fund focused on the Chungnam region. The mother fund has invested a record 60 billion won, and private investors have contributed 50 billion won. Major private investors include Chungcheongnam-do, Industrial Bank of Korea, NongHyup, and Hana Bank. In particular, regional senior corporations JB, MiraeN S Ohui Energy, Sunic System, and Daeil Industrial have collectively invested 6 billion won to support the growth of local junior corporations.
The 'Chungnam Corporate Growth Venture Fund' plans to finalize the investment areas through an operational committee in September and start the self-fund investment project in October. It aims to create a venture fund of 150 billion won over the next three years.
The event began with an opening ceremony, followed by a presentation on the operational direction of the 'Chungnam Corporate Growth Venture Fund' and an investor relations presentation for promising corporations in Chungnam in the second part. In the third part, LB Investment and AJU IB INVESTMENT participated in networking with local investors from Chungnam and metropolitan investment firms.
Vice Minister Noh Yong-seok said, "The 'Chungnam Corporate Growth Venture Fund,' born through the solidarity of the local community, will serve as a catalyst to inspire and empower other communities, drawing participation from many local investors." He added, "Starting with this Chungnam Corporate Growth Venture Fund, the Ministry of SMEs and Startups will establish a venture fund exclusively for non-metropolitan areas centered around five poles and three special zones, nurturing ventures and startups as engines of growth for the region."