On the 29th, the Korea Development Bank announced that a total of 13 firms applied for the three fund managers in response to the 'Global Supply Chain Response Fund Delegated Management Company Selection Plan,' which closed for proposals on the 25th, recording a competition rate of 4.3 to 1.
The Global Supply Chain Fund is established to respond to the rapidly evolving global supply chain restructuring related to key materials, parts, and equipment such as semiconductors. Its purpose is to provide funding for domestic companies acquiring overseas firms or expanding abroad.
On the 10th, a creditors' meeting of Taeyoung Construction was held at the headquarters of the Korea Development Bank in Yeouido, Seoul. Photo by Younghan Heo younghan@
Looking at the application results in detail, five firms applied for the medium-sized fund (each 200 billion KRW) recruiting two companies, resulting in a competition rate of 2.5 to 1, while eight fund managers applied for the small-sized fund (100 billion KRW) recruiting one company, showing a competition rate of 8.0 to 1.
Based on these application results, the Korea Development Bank plans to select a total of three delegated management companies (two medium-sized and one small-sized) through a review process by March. The bank stated, "As a leading policy financial institution and a major investor, we will continue to invest venture capital that aligns with market conditions and government policies."
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