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IBK·KOTRA, Agree to Foster the Next Unicorns in Korea

According to Yonhap News,

(SEOUL=Yonhap News) On April 18, the Industrial Bank of Korea (IBK) and the Korea Trade and Investment Promotion Agency (KOTRA) signed an agreement to support innovative venture companies and SMEs with investment promotion and overseas market entry.

IBK will scout valuable startups and venture companies through its investment promotion platform "KBD Next Round." KOTRA will help those companies enter overseas markets through its Invest Korea Market Place (IKMP) program.

IBK and KOTRA also plan to set up a KRW 50 billion investment fund especially for the selected companies. The fund is expected to give credibility to the companies and increase the possibility of attracting foreign investment.

IBK Chairman and CEO Kim Do-jin stated at the agreement ceremony, "By combining KOTRA's global infrastructure and expertise in entering overseas markets with IBK's Fourth Industrial Revolution-related financial experience, we will be able to foster the next unicorn, resembling companies such as Tencent and Netflix."

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Source Text

** This article was translated from Korean.

Source: Yonhap News (Apr. 18, 2018)

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