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(Seoul = Yonhap News) Reporter Boram Yoon = The government will establish a public-private joint venture industrial innovation fund worth 100 billion won and set out to fund digital innovators.
The Ministry of Trade, Industry and Energy has formed the’Digital Industry Innovation Fund No. 1’with a scale of 12 billion won to invest in companies promoting innovation using digital technologies such as AICBM (artificial intelligence, Internet of things, cloud, big data, mobile). It was revealed on the 22nd.
The Digital Industry Innovation Fund was created by joint participation of public and private investment institutions to respond to the reorganization of the global value chain (GVC) due to the 4th Industrial Revolution and Corona 19, and to expand investment in industrial digital transformation.
The formation amount was 12 billion won, exceeding the original target of 80 billion won, 22 billion won.
Investors are Korea Industrial Technology Agency (KIAT) 25 billion won, Korea Growth Finance 15 billion won, Korea Development Bank Capital 20 billion won, L&S Venture Capital 5 billion won, IBK Industrial Bank 5 billion won, and Nextin 5 billion won.
Fund management is undertaken by L&S Venture Capital and KDB Capital. It was designed with an investment period of 4 years, a duration of 8 years, and a base rate of return of 6%.
The manager will actively discover digital industrial innovation companies that promote innovation in production processes and products and services by incorporating AICBM technology, and will invest more than 60% of the total fund.
The Ministry of Industry, starting with the Digital Industry Innovation Fund No. 1, decided to create a total of 400 billion won in digital industry innovation fund by 2024 to promote digital transformation of the domestic industry.
We will promote the creation of the 2nd fund worth 80 billion won within the year, and announce the plan to select the 2nd fund manager in the first half of the year.
In addition to the Digital Industry Innovation Fund, the government is supporting the funds necessary for digital transformation of domestic companies through a financial support agreement with the Credit Guarantee Fund and Shinhan Bank worth a total of KRW 2 trillion.
Sang-mo Kim, director of industrial technology convergence policy at the Ministry of Industry, said, “We will continue to expand the discovery of digital innovative companies and financial support so that the industry can overcome the crisis in the era of digital transformation and secure global competitiveness.”
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2021/03/22 11:39 sent