TLDR:
- The Financial Services Commission of South Korea has unveiled an $11.36 billion plan to support early-stage ventures.
- The plan includes increased funding, support for M&A and IPO markets, regional and global expansion initiatives.
In a recent move to strengthen the domestic venture ecosystem, the Financial Services Commission (FSC) of South Korea announced a comprehensive plan to enhance support for early-stage venture companies. The FSC has committed to injecting $11.36 billion into the venture market this year through key financial institutions, such as the Korea Development Bank (KDB) and others. This represents a significant increase from the previous year’s allocation. The aim is to ensure that startups have sufficient funding from the early stages of their development.
Additionally, the FSC will create and invest over $368 million over the next three years through the IBK Venture Investment program to provide essential capital to startups. The FSC is also focusing on enhancing the M&A and IPO markets by strengthening the functions of the IBK M&A Center and establishing a secondary fund for IPOs. Regional and global expansion plans are also in place to support startups in different regions and promote Korean ventures looking to scale globally.
The FSC’s Chairman emphasized the need for a holistic approach to build a robust venture ecosystem, highlighting the importance of collaboration between government ministries. The aim is to provide detailed and practical support to startups, ensuring a thriving venture ecosystem in South Korea.
