Joint IR Event with KVIC to Attract VC Investment
Second Overseas Branch to Open in Silicon Valley in the Second Half of the Year
Korea Technology Finance Corporation (KOTEC) announced on June 19 that it has opened its first overseas branch, the "Singapore Branch," in Singapore's Central Business District (CBD).
The establishment of KOTEC's overseas branch was pursued to strengthen connections between overseas expansion companies and foreign investors, particularly in Southeast Asia, and to build a close-knit financial support system for expanding the overseas presence of domestic small and venture businesses.
Singapore is recognized as Asia's financial and industrial hub, as well as a leading center for deep tech sectors such as artificial intelligence (AI), semiconductors, and biotechnology. The region is regarded as an innovation base for global expansion and scale-up. KOTEC plans to take the lead in building a global ecosystem for small and venture businesses in this area.
At the opening ceremony, KOTEC will present the vision and implementation strategy for the Singapore Branch, focusing on a comprehensive support system to promote the overseas expansion of domestic small businesses. The corporation also announced its intention to develop the Singapore Branch into a global hub for technology finance, going beyond simply serving as an overseas outpost.
Following this, a joint investor relations (IR) event will be held with Korea Venture Investment Corporation to attract venture capital (VC) investment for companies entering the ASEAN market. Domestic deep tech companies such as Palette, Roohdin, First Biotherapeutics, Inex Corporation, Autonomous AtoZ, and Cellac Bio, which are currently pursuing global scale-up, will participate in the IR session to pitch for investment.
Additionally, KOTEC will sign a business agreement with Shinhan Bank, which possesses a global financial infrastructure, for "financial support for companies entering Southeast Asia (Jump into SEA)" on the same day. The two institutions have agreed to: provide joint financial support for companies expanding into Southeast Asia; cooperate on technology-based evaluation; and strengthen connections with global networks. Through these measures, the aim is to provide prompt and practical support to technology-based small and venture businesses in the early stages of overseas expansion.
Starting with the opening of the Singapore Branch, KOTEC plans to establish its second overseas branch in Silicon Valley, United States, in the second half of this year. Through these efforts, the corporation aims to facilitate the global spread of K-technology finance and to systematically support the overseas expansion of promising technology companies, actively fostering their growth into global enterprises.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
