On the 3rd, Korea Development Bank announced the publication of a notice for the selection of the 'Master Fund Delegated Manager' for the Nuclear Power Industry Growth Fund, in accordance with the plan to establish the Nuclear Power Industry Growth Fund announced at the 10th Policy Finance Support Council held on the 26th of last month.
This project aims to establish a fund specialized in the nuclear power industry worth 100 billion KRW (70 billion KRW in policy funds and 30 billion KRW in private funds) to strengthen the competitiveness of the domestic nuclear power ecosystem and proactively foster the SMR (Small Modular Reactor) industry.
Considering the characteristics of the nuclear power industry, which lacks private investment, the government budget, Korea Development Bank, and Korea Hydro & Nuclear Power will provide 70 billion KRW as seed money to support domestic nuclear power companies in securing global competitiveness.
After the proposal submission deadline on the 15th, a review process will be conducted to select one master fund delegated manager by the end of this month. The selection process for sub-fund delegated managers will be completed in the first half of the year, aiming to establish a fund worth 100 billion KRW within the year.
A representative from Korea Development Bank stated, “We plan to actively play a leading role as a national representative policy institution by supplying seed money to the contracted venture capital market and establishing sector funds specialized in fields securing national new growth engines, such as the Semiconductor Ecosystem Fund, in addition to the Nuclear Power Industry Growth Fund.”
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