150 Billion Won Future Fund Invests in AI and Bio Companies in Uijeongbu
The city of Uijeongbu in Gyeonggi Province has established a policy fund worth 150 billion won to invest in companies in future industries such as artificial intelligence (AI), bio, and media/content. On the 13th, Uijeongbu announced the creation of the future industry development fund and signed a business agreement with KH Venture Partners on the 12th. The fund consists of 10 billion won from Uijeongbu, 90 billion won from the government’s mother fund, and 50 billion won from private investments, totaling 150 billion won. The investment association is named 'KH Future Deep Eco Investment Association' and was recently registered with the Ministry of SMEs and Startups. This fund is designed to mandate that more than 300% of Uijeongbu's investment be invested in local companies, with at least 30 billion won allocated to businesses within Uijeongbu. The key investment areas are deep tech and green tech, with AI, media/content, and bio designated as strategic growth industries. Uijeongbu plans to encourage the relocation and establishment of companies with high growth potential through this fund. Mayor Kim Won-ki stated that this fund will provide investment and growth opportunities for excellent local companies and serve as a turning point for the development of the local economy.
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