Korea Development Bank Establishes 500 Billion KRW Fund to Revitalize Secondary Market

On the 20th, the Korea Development Bank announced that it will promote the establishment of a 500 billion KRW fund to revitalize the recovery market.

Using 150 billion KRW of the Korea Development Bank's capital as seed money, a 300 billion KRW merger and acquisition (M&A) fund and a 200 billion KRW secondary (existing stock sale) fund are expected to be established.

The Korea Development Bank plans to close the proposal submission on January 22 next year after the announcement and finalize the selection of the entrusted management company in February.

The Korea Development Bank forecasted that this will support the revitalization of the sluggish venture recovery market and contribute to a virtuous cycle system of venture capital.