Korea Development Bank and Shinhan Asset Management announced on the 23rd that they plan to establish a fund of over 100 billion KRW through the selection notice for sub-fund management companies of the 'Nuclear Power Industry Growth Fund'.
A total of 70 billion KRW will be invested to select one or two management companies. The Nuclear Power Industry Growth Fund will be formed with 70 billion KRW in policy funds and 30 billion KRW in private funds, according to the fund creation plan announced at the '10th Policy Finance Support Council'. The fund will invest in small and medium-sized enterprises and mid-sized companies involved in nuclear power-related businesses, as well as companies related to small modular reactors (SMRs).
Shinhan Asset Management is the lead agency for selecting sub-funds of the Nuclear Power Industry Growth Fund, and the announcement has been posted on the websites of both Shinhan Asset Management and Korea Development Bank. Proposals will be accepted until the 5th of next month. After the proposal deadline, a review process will take place, and the management companies will be selected at the end of next month.
An official stated, "With the creation of a policy fund specialized in the nuclear power industry, we expect that investments aimed at strengthening the competitiveness of the domestic nuclear power sector, including SMRs, will begin in earnest."
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