New Angel Investment Hub to Be Established in Gyeongbuk

Final Selection of Regional Angel Investment Hub
Fourth Following Chungcheong, Honam, and Southeast Regions

The Ministry of SMEs and Startups announced on the 25th that it will establish an Angel Investment Hub for the Daegu-Gyeongbuk region in Gyeongbuk to revitalize angel investment outside the metropolitan area. The regional Angel Investment Hubs have been set up and operated in local metropolitan areas since 2021 to alleviate the concentration of angel investment in the metropolitan area by utilizing the infrastructure and capabilities of both the private and public sectors, and to create an early-stage investment ecosystem at the regional level.

Starting with the Chungcheong region (Daejeon, Sejong, Chungnam, Chungbuk) and Honam region (Gwangju, Jeonnam, Jeonbuk, Jeju) in 2021, and the Southeast region (Busan, Ulsan, Gyeongnam) last year, the Daegu-Gyeongbuk Angel Investment Hub has been finally selected as the fourth this time.

Gyeongbuk received favorable evaluations in this assessment for the local government's commitment, the current status of promoting startup investment revitalization, and feasibility. The Ministry of SMEs and Startups plans to establish the Daegu-Gyeongbuk Angel Investment Hub at the Gyeongbuk Creative Economy Innovation Center Gyeongsan branch located in Gyeongsan City, Gyeongbuk, by June and begin full-scale operations.

Lee Ji-ho, Director of Investment Management and Supervision at the Ministry of SMEs and Startups, said, “The Daegu-Gyeongbuk regional Angel Investment Hub to be established in Gyeongbuk is expected to become a focal point for regional angel investment by discovering potential investors, building networks between startups and investors, and spreading an investment atmosphere for early-stage startups,” adding, “We will expand support for revitalizing regional angel investment together with local governments.”