Korea-China Entrepreneurs Association Signs Investment Agreement with Major US Fund Company

The Korea-China Entrepreneurs Association announced that it signed a business agreement with W World, a large fund company based in New York, USA, on the 4th at the Dongbangmyeongju Chinese Association meeting room in Jamsil to attract investment from domestic companies.

The Korea-China Entrepreneurs Association (President Kim Hoon) has been in steady discussions with W World (Chairman Kang Guk-pyeong), located in the Manhattan securities district of New York, USA, for several months to attract investment to Korea, and invited them to Korea on May 18, 2022.

Chairman Kang Guk-pyeong, a Chinese national, has resided in the United States for about 43 years, obtained permanent residency, and is a businessman operating several fund companies and various enterprises in both the US and China. The Korea-China Entrepreneurs Association stated that there was a schedule for due diligence, including business presentations and factory tours with promising domestic SMEs, together with Chairman Kang Guk-pyeong.

Fron Holdings Co., Ltd. (co-CEOs Lim Yu-seop, Song Hwan-gyu, Han Jang-hyun, Lee Seung-bok), established by representatives of domestic specialized companies, and W World (Chairman Kang Guk-pyeong) agreed on June 4, 2022, to invest in projects related to those organized by Fron Holdings Co., Ltd., and signed a business agreement for successful project promotion and investment attraction.

Through the business agreement, W World (Chairman Kang Guk-pyeong) agreed to invest USD 30,000,000 in projects such as K-Hologram, Yesung Ocean Tech (wind power), Gwangjin RDI Co., Ltd., and other promising domestic SMEs supported by Fron Holdings Co., Ltd., and Fron Holdings agreed to transfer part of its shares to the investor.

This agreement is expected to serve as an opportunity for the projects led by Fron Holdings Co., Ltd. to develop and become more active.

In particular, K-Hologram, which possesses core technology related to VR (Virtual Reality) and AR (Augmented Reality) digital content, has joined the Journey to the West theme park project (business scale approximately KRW 5 trillion) being promoted in Shandong Province, China. Yesung Ocean Tech (wind power), based on a domestic patented floating mooring device, is expected to contribute to the shipbuilding and power industries in Korea and China in the future.

Additionally, sisterhood and exchange student cooperation agreements have been established between Korea Polytechnic University (President Park Geon-su) and leading universities in China. Approximately KRW 30 billion has been invested in the Policy Bureau of Gyeonggi Province to support SMEs within Gyeonggi Province and promote exchanges with provinces and cities in China. Cooperation on wind power complexes with Jeonnam Provincial Office and the establishment of an investment management company for smooth investment have also begun, marking the start of various footholds across the industry.

On this day, Kim Hoon, President of the Korea-China Entrepreneurs Association; Vice Presidents Kim Hyun-sun and Kim Jeong-il; Director Lee Geum-hwa; W World Chairman Kang Guk-pyeong; Fron Holdings Co., Ltd. representatives Lim Yu-seop, Song Hwan-gyu, Han Jang-hyun, Lee Seung-bok; Overseas Team Leader Lim Jin-sook; Mac & Star Co., Ltd. representatives Heo Hye-yeon and Shin Cheol-ho attended the signing ceremony and subsequent dinner, making it a meaningful occasion.

Kim Hoon, President of the Korea-China Entrepreneurs Association, said, “Despite inflation and economic difficulties caused by COVID-19 and the Russia-Ukraine war, we are able to deliver such good news to domestic companies. I hope everyone moves forward with a positive mindset and hope.”