The Ministry of SMEs and Startups said on the 27th that it held a venture fund finance agreement and a venture investment briefing in Busan, moving to boost the Southeast region's venture ecosystem. The schedule is a field communication initiative to support the growth of Southeast region corporations.
On the day, Busan Bank, Kyongnam Bank, Korea Venture Investment Corporation and Korea Technology Finance Corporation (KOTEC) signed a "productive finance agreement (MOU) for revitalizing the Southeast region's venture funds and venture ecosystem" at Busan Bank's headquarters. The four institutions agreed to cooperate on mutual-growth finance support for venture corporations in the Southeast region, collaboration in creating and operating venture funds, and revitalizing the regional venture ecosystem.
Minister Han Seong-sook of the Ministry of SMEs and Startups (MSS) said, "This cooperation is significant as a model in which regional financial institutions and policy finance institutions jointly support regional ventures and startups," adding, "We will continue to expand investment and financial support for regional venture corporations."
The Ministry of SMEs and Startups (MSS) then holds a Southeast region venture capital roundtable and a "Southeast region venture policy and venture investment briefing" at the Busan Center for Creative Economy and Innovation. Capital firms from the capital area and the Southeast region, including KB Investment, Enlight Ventures and BNK Venture Investment, are scheduled to attend to discuss ways to boost regional venture investment.
Seven institutions, including Korea Venture Investment Corporation, Korea SMEs and Startups Agency (KOSME), Korea Technology Finance Corporation (KOTEC), the Center for Creative Economy and Innovation, the Korea Venture Business Association, the Korea Venture Capital Association and the Korea Business Angels Association, also took part. The participating institutions introduce venture support programs and conduct one-on-one consultations for corporations.
The briefing is broadcast live on the Ministry of SMEs and Startups (MSS) YouTube channel as "open administration, live administration," enabling the public to access policies anytime, anywhere.
Minister Han said, "The Southeast region has great potential to grow into another pillar of Korea's venture ecosystem alongside the capital area," adding, "The Ministry of SMEs and Startups (MSS) will listen closely to voices on the ground so that all non-capital regions can demonstrate their own growth potential, and will craft policies that meet regional needs."
On the day, the Minister visited the headquarters of Korea Technology Finance Corporation (KOTEC), which is on the front line of executing policy funds, and the Busan dedicated training center of the Small Enterprise and Market Service to check the status of policy fund support and hear on-site opinions and difficulties from working-level staff.