[Financial News] The Korea Development Bank (KDB) announced on the 4th that it had received applications from a total of 15 companies in response to the “2025 Southern Region Growth Support Fund Management Company Selection Plan” published on June 20th.
KDB plans to select management companies in September that will manage two Private Equity (PE) funds worth 240 billion KRW and three Venture Capital (VC) funds worth 105 billion KRW after a fair and transparent assessment process.
The selected management companies will execute investments in local companies located in the southeastern (Busan, Ulsan, Gyeongnam) and southwestern (Gwangju, Jeonnam, Jeonbuk) regions of Korea by forming funds and supplying funds matched with private capital.
This investment project is the first directly created regional fund since the establishment of the Southern Region Headquarters last October, and it aims to nurture strategic industries in the southern region, secure industrial competitiveness through new industry investments, and business restructuring.
A representative from KDB stated, “In line with the government’s policy directions, we plan to actively fulfill our role as a leading policy financial institution by preemptively supplying venture capital to promote balanced regional development and customized support for the growth strategies of southern region companies.”