Daejeon Investment Finance and Rivest Sign 1 Billion KRW Investment Agreement... First Step in Technology Investment

Expected to Serve as a Catalyst for the Technology Investment Ecosystem

From the left, Juseong Kim, CEO of Libest Co., Jangwoo Lee, Mayor of Daejeon, and Wongang Song, CEO of Daejeon Investment Finance / Daejeon City

Daejeon City announced that it has signed the first investment agreement with Daejeon Investment Finance Co., Ltd., officially launching efforts to vitalize the local venture investment ecosystem.

On the 7th, at the city hall's main conference room, Mayor Lee Jangwoo, Song Wongang, CEO of Daejeon Investment Finance, and Kim Joosung, CEO of Rivest Co., attended the signing ceremony for a 1 billion KRW investment agreement between Daejeon Investment Finance and Rivest.

This agreement marks the first direct investment from Daejeon Investment Finance's principal account since its official launch in December last year. It is expected to foster a virtuous cycle of private-led investment and serve as a catalyst for the growth of local technology companies.

Daejeon Investment Finance is currently recruiting investors to establish a venture fund. Until the fund is formed, it is focusing on discovering promising local companies through direct investments using its own capital.

Rivest is a leading innovative company in Daejeon, developing next-generation electronic materials and battery technologies, and is recognized for its outstanding technological capabilities and high growth potential.

The agreement focuses on providing comprehensive support for the scale-up of technology-driven local companies, including support for corporate research and development (R&D) and business expansion, advancement of core technologies and strengthening production capabilities, and accelerating entry into global markets.

Mayor Lee Jangwoo stated, "Daejeon Investment Finance is an innovative financial platform that invests in advanced technology companies based on local capital, and this first investment is a meaningful achievement in fulfilling our commitments. Starting with this investment, we will further expand fund formation and investment opportunities to actively support local companies in securing competitiveness in the global market."