South Korean Banking Groups Pledge W1 Trillion for Venture Funding

Banking groups pledge W1tr to government-led venture funding initiative

Korea's five major banking groups pledged to commit a combined 1 trillion won ($675.3 million) to support the country's venture and startup ecosystem, joining a government-led push to revive venture investment with private capital. KB, Shinhan, Hana, Woori and NH Financial Groups signed a memorandum of understanding Thursday with the Financial Services Commission and the Ministry of SMEs and Startups, according to the companies and government agencies. Policy financing and guarantee institutions

By The Korea Herald