Major Korean Companies Join $640 Million Startup Korea Fund
Creatrip Team
9 months ago
The Ministry of SMEs and Startups in Korea announced the completion of the selection process for the Startup Korea Fund, which will total approximately 640 billion won ($640 million USD). The fund is aimed at investing in deep-tech startups that aim for the global market. This year, 27 private participants, including global players like Tokyo City Keizai Center, joined, contributing 2.488 trillion won, while the government's mother fund contributes 1.716 trillion won. Notably, companies like Kolmar Korea and Cosmax (leading beauty and cosmetics brands in Korea) will each invest 20 billion won in the venture fund specializing in K-beauty (Korean beauty products) and beauty tech startups.
