The Ministry of the Interior and Safety said on the 31st it will push to establish the first "National Safety Industry Fund," to be operated under the National Safety Account of the mother fund.
The fund is a disaster-safety–dedicated investment fund created with the Ministry of the Interior and Safety (MOIS)'s investment as seed capital. It is being formed to foster promising corporations in the disaster-safety field.
Korea Venture Investment Corporation, the operator of the mother fund, selected Hyundai Motor Securities as the manager through a public offering.
Hyundai Motor Securities plans to establish a 10.5 billion won fund within three months by combining 5 billion won in government investment and 5.5 billion won in private investment. The main investment targets are disaster-safety corporations with advanced technologies such as artificial intelligence (AI) and robotics. The company said it plans to use the capital for technology and product upgrades, marketing, and obtaining certifications and patents.
The Ministry of the Interior and Safety (MOIS) plans to continue expanding the size of the National Safety Industry Fund, starting with this first establishment.
Park Hyeong-bae, director general for Safety Prevention Policy at the Ministry of the Interior and Safety (MOIS), said, "We hope this fund will serve as a springboard for the growth of disaster-safety corporations with excellent technology," and added, "We will actively cultivate the domestic disaster-safety industry by fully leveraging the strong capabilities of the professional manager."