BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News)Busan city signed MOU to run a private-public co-working space with six public and financial institutions--Korea Securities Depository (KSD), Korea Technology Finance Corporation (KOTEC), BNK Financial Group, Busan Port Authority, (BPA), Korea Southern Power Co., Ltd. and the Korea Housing Finance Corporation--at the meeting room of city government office on February 25.

The co-working space is a shared office to provide tailored startup services for the growth of startups, ranging from mentoring, and support for investment. .

The participating organizations will provide a platform for venture and investment in which about 200 spaces available for technology startups and IR sessions will be located.

Once design and construction work is finished, after selecting an operating company and tenants, it will officially open in November.

KSD will provide KRW 10.8 bln for tenant spaces and crowdfunding.

BPA, Korea Southern Power, and Korea Housing Finance Corporation will support the expenses required for operation and startup support programs.

KOTEC will be responsible for investment and technology guarantee, while BNK will take fund investment and loan support.

Busan mayor said, "We expect this startup support program, participated by public and private sectors, will set a new cooperation model in the startup ecosystem, as well as corresponding to the government's policy of innovative growth and job creation."

joseph@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (February 25, 2019)