Korea Development Bank (KDB) announced on Oct. 11 that it signed a business agreement with nine organizations to strengthen support for science and technology startups founded by the four and early-stage deep-tech ventures, which received technologies from them.
The signing ceremony took place at KDB’s headquarters.
The nine consisted of four major educational institutions of science and technology - KAIST, GIST, DGIST and UNIST — and five technology holding companies.
This agreement is quite meaningful in that it strengthens cooperation by expanding the number of participating organizations to a total of 10, including the four major educational institutions of science and technology over the last four years.
It is based on the positive outcomes of business agreements inked between KDB with 10 organizations including the four technology holding companies established over the four years.
Through an MOU signed in November 2020, KDB has invested 185 billion won in a total of 27 startups founded by the four technology holding companies.
Utilizing its NextRound Platform, KDB provided various opportunities for networking with venture capitalists and companies.
KDB held special IR days for the four major educational institutions of science and technology, and operating booths for companies from the four technology holding companies at NextRise, the largest startup fair in Korea.
This expanded new agreement will support the four major educational institutions of science and technology in all stages of growth by strengthening a collaborative system linking startup support from the four major educational institutions of science and technology, seed investment and corporate development from the technology holding companies and financial support from KDB.
Moreover, the KDB Venture Finance Headquarters will support startups founded by the four major educational institutions of science and technology by connecting with its overseas network. It will also provide business foundation and value-up strategies by actively participating in startup programs of each of the four major educational institutions of science and technology.
Busan Industrial Complex for Materials, Parts and Equipment for Power Semiconductors
KDB signed a memorandum of understanding with the Busan City government to jointly foster the Busan Industrial Complex for Materials, Parts and Equipment for Power Semiconductors at Busan City Hall on Sept. 23.
On hand were Kang Seog-hoon, chairman of KDB and Park Heong-joon, mayor of Busan among others.
This MOU is being promoted as the Korean government’s core national policy goal is to promote balanced regional development by strengthening the foundation for innovative growth.
In July 2023, the Gijang-gun area of Busan was selected as home to a specialized complex for materials, parts and equipment for power semiconductors, a core component for electric vehicles.
KDB and the Busan City government are planning on focusing on revving up the Busan economy and fostering a power semiconductor ecosystem through the early stabilization of the specialized complex by organically playing their roles that take advantage of their unique strengths.
To this end, the two institutions will join forces to provide customized financial support for companies that are planning to move into the specialized complex, internal and external cooperation and information sharing for the development of companies that are planning to move into the specialized complex, and providing and arranging financial advice related to the creation and development of the specialized complex.
‘KDB V: Launch’ on Corporate Valuation and IP Protection
On Sept. 25, KDB held the ‘KDB V: Launch’, its regional venture platform, at the KDB NextONE Busan IR Center.
More than 50 organizations participated, including local startups, investment institutions from the Seoul metropolitan area, and related organizations in venture ecosystems.
KDB V: Launch is Korea’s first regional specialized venture platform.
It started in 2023 with the vision of increasing the value and promoting the success of innovative venture startups in the southeastern region of Korea.
Special sessions were offered on the topics of “enterprise valuation for ventures and startups” and “IPR protection and dispute resolution.”
Moreover, small companies made IR presentations.
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