Gyeonggi-do Economic Science Promotion Agency is launching a fund worth 60 billion KRW to invest in semiconductors.
Gyeonggi Province is establishing a semiconductor investment fund worth 30 billion KRW.
The Gyeonggi-do Economic Science Promotion Agency announced on the 22nd that it plans to create the "Future Growth Fund No. 6," which will invest in the semiconductor sector to promote the development of future innovative industries. The Future Growth Fund No. 6 will be established with a total of 30 billion KRW, with the agency contributing 3 billion KRW.
The fund will focus on investing in small and venture companies in the semiconductor sector, including system semiconductors and semiconductor equipment, within the province.
Earlier, starting from the 14th, the agency disclosed the fund establishment plan through EZBiz and the Korea Venture Capital Association to build a semiconductor ecosystem and support small and venture companies in the semiconductor field, and began recruiting fund managers.
Applications for fund managers are open until May 31, and through evaluation, one or so companies will be selected as preferred negotiation candidates. Subsequently, additional investors will be secured, and detailed matters such as regulations will be finalized. After the fund is formed, the agency will actively begin discovering companies and making investments.
According to the Gyeonggi Province G-Fund (Future Growth Fund No. 6) investment plan, the selected fund manager must invest mandatorily in small and venture companies in the semiconductor sector within the province.
The specific mandatory investment targets include small and venture companies in the semiconductor sector such as system semiconductors, semiconductor equipment, semiconductor-related materials, parts, and equipment (SoBuJang) companies, as well as companies participating in R&D support projects designated by the agency.
Kang Seong-cheon, head of the agency, stated, "Gyeonggi Province is the hub of South Korea's semiconductor industry and is focusing on fostering the semiconductor industry, including establishing an AI semiconductor team within the agency. We will actively support the growth of small and venture semiconductor companies with excellent technology by expanding investment support."
Meanwhile, Gyeonggi Province and the agency are currently operating 19 funds totaling 846 billion KRW. This year, considering future growth potential and social value, they will additionally establish four funds: Startup Fund No. 4, Carbon Neutral Fund No. 2, Future Growth Fund No. 4 (AI sector), and Future Growth Fund No. 5 (Bio sector).
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