Busan City to Host Venture Investment Activation Meeting… Discussing Customized Support Plans
Easing Financial Burden on Startups… Supporting 100 Billion KRW in Guaranteed Loans
Promoting Corporate Growth… Expanding Scale-up Fund and IPO Support
Strengthening Startup Ecosystem… Integrated Support on Investment, Business Operations, and Infrastructure
Busan = Reporter Lee Seung-ryun
Busan City has announced plans to create a 2 trillion KRW parent fund to ensure regional venture companies receive necessary investments as they progress through their lifecycle.
On the afternoon of the 6th, Busan City will hold the ‘Busan Venture Investment Activation Meeting’ presided over by Mayor Park Heong-joon. The meeting will be attended by financial institutions, investment companies, and corporate representatives to discuss measures to support regional venture companies in receiving appropriate investment according to their growth stage.
The meeting will focus on investment funds, including the Future Growth Venture Fund established last year. Participants include financial institutions that contributed to this fund, startup support experts, venture capitalists, early-stage startups, and companies preparing for an IPO, all exploring ways to invigorate the regional startup environment.
In particular, Mayor Park will directly present Busan’s venture investment direction and propose specific support measures to make it an attractive city for venture growth. By 2030, he plans to raise 2 trillion KRW in investment funds to assist venture companies in securing capital. Additionally, Busan Bank will contribute 5 billion KRW to provide 100 billion KRW in guaranteed loans, alleviating startups’ financial burdens.
Furthermore, Busan will cooperate with financial institutions to create a 100 billion KRW ‘Scale-up Fund’ and actively support companies’ market listings. To vitalize the venture investment market, the city will expand investor participation and broaden the operation of a ‘secondary fund’ where funds re-invest after being recouped. It will also increase support for early-stage startups and establish an integrated support system linking investment, business operations, and infrastructure to create a more stable startup environment.
Mayor Park is expected to express his intention to lead a new venture investment trend through this meeting, positioning Busan as the center of economic growth in Korea. The city plans to incorporate ideas discussed in this meeting into its venture investment policies and expand the related investment base to actively support the continuous growth of companies. Mayor Park emphasized, “We will activate venture investments so that Busan becomes Korea’s new growth engine and create an environment where companies can grow stably.”