[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has established the "Gyeonggi Province Content Company Support Fund No. 4" worth 53.5 billion KRW to foster content companies within the province and expand investments.
Gyeonggi Province invested 3 billion KRW for this fund. Korea Venture Investment Corp. (the mother fund) contributed 18 billion KRW, and the management company (Aventures) invested 1 billion KRW. Additionally, 31.5 billion KRW from other public and private institutions was matched.
Out of the 53.5 billion KRW fund, the province plans to invest at least 7.5 billion KRW, which is 2.5 times the province’s contribution of 3 billion KRW, into content companies within Gyeonggi Province.
Since launching the first fund in 2016, the province has been managing venture funds totaling 53 billion KRW up to the third fund.
As of last year, 75 cases totaling 50.8 billion KRW were invested, resulting in the creation of 829 jobs and sales of 367.2 billion KRW (based on the single year of 2020).
Representative content investment companies include Dreamotion (games), Royalcrow (games), Clobot (knowledge information services), and Coinplug (content solutions).
An official from the province stated, "Despite the difficulties caused by COVID-19, we will pursue opportunities and changes, contributing to the expansion and innovation of the content industry and acting as a partner for Gyeonggi Province companies." He emphasized, "We will continue to strengthen partnerships with investors based on ongoing investments and serve as a link to ensure that much interest and investment flow into content companies within the province."
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