Corporate Registration Scheduled for This Month...
Aiming for New Technology Business Finance Company Approval Within the Year
Accelerating Investments in Promising Deep Tech Startups
HankookandCompany Group is officially launching its corporate venture capital (CVC) arm, HankookandCompany Ventures, with a capital of 15 billion KRW. The move aims to secure a new growth engine for HankookandCompany Group, which has positioned itself as a global high-tech group, while also promoting a virtuous cycle in the startup ecosystem and creating jobs.
On May 8, HankookandCompany Group announced that its wholly owned subsidiary, HankookandCompany Ventures, will officially launch on May 9. As a dedicated organization for the group's venture investments, the CVC will begin by forming its first blind fund worth several billion KRW, with an initial capital of 15 billion KRW, and will invest in promising deep tech startups. The company plans to consider investments across a wide range of fields, including artificial intelligence (AI), robotics, mobility platforms, augmented reality (AR), big data, aerospace, and quantum computing.
HankookandCompany Ventures aims to complete its corporate registration and financial authority registration within this month, and is targeting approval as a new technology business finance company within the year. Jinwon Jeon, who previously led the venture investment division at Samsung Group, has been appointed as the new CEO.
This CVC establishment marks the first such initiative for HankookandCompany Group since its founding. Since taking office as chairman in 2021, Hyunbum Cho, chairman of HankookandCompany Group, has consistently declared the group's ambition to become a 'global high-tech company.' He has identified the acceleration of digital and AI transformation, sustainable R&D innovation, and job creation as the group's core priorities.
Among these, Chairman Cho has shown particular interest in the CVC sector, which discovers and supports promising startups to create synergy with the group. Over the past five years, Chairman Cho has planned and designed the group's mid- to long-term portfolio strategy, leading the CVC establishment project.
Chairman Cho emphasized, "We will support the ecosystem so that Korean companies can play a greater role on the global stage of future mobility and beyond, and we will create a virtuous cycle that returns corporate profits to society by expanding employment."
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