Nation's First Local Government Public Investment Institution 'Daejeon Investment Finance' Launched

Daejeon City Invests 50 Billion Won in Capital to Support Tech Venture Startups and Growth
Mayor Lee Jangwoo: "We Will Become a Global Hub for Ventures and Startups"

At the inauguration ceremony on this day, Mayor Lee Jangwoo, along with representatives from central government departments, the financial sector, and corporations, attended. / Daejeon City

Daejeon City held the launch ceremony for 'Daejeon Investment Finance Co., Ltd.' at Hotel ICC on the 10th. This is the nation's first local government public investment institution dedicated to supporting the innovation and growth of regional venture companies.

Daejeon Investment Finance Co., Ltd. was established with Daejeon City investing 50 billion KRW in capital, fully funded by the city, to support the creation and growth of globally competitive technology ventures.

The launch ceremony included a report on the purpose and progress of establishing Daejeon Investment Finance Co., Ltd., the unveiling of the company's CI symbolizing Daejeon's leadership in creating Korea's new growth engines, a flag handover ceremony, and a performance wishing for the company's success.

Expert presentations followed on 'The Role and Operation Strategy of Daejeon Investment Finance Co., Ltd.' and 'Strategies for Advancing the Region-Centered Venture Investment Market.' A panel discussion was also held to discuss ways to support the innovation and growth of local venture companies.

Lee Jangwoo, Mayor of Daejeon, said, "With the official launch of Daejeon Investment Finance Co., Ltd., I ask for the generous support and cooperation of Daejeon citizens and key institutions both inside and outside the region so that Daejeon, the city of pioneers, can break the capital region-centered economic system and emerge as a cradle for world-class ventures and startups."

He added, "We will spare no effort to create a dynamic venture investment ecosystem in the region and continuously expand our open network so that local venture companies with creative technological capabilities can secure market competitiveness and grow into global enterprises."