April 27, 2024
Finance
Venture investment nears W1tr in H1
[THE INVESTOR] Venture capitalists continued to pour money into Korean startup companies in the first half of this year, government data showed on Aug. 1.
The investment in startups was tallied at 992.6 billion won (US$887 million) in the January-June period, up 1.8 percent from a year earlier, according to the data from the Ministry of SMEs and Startups.
The ministry said 369.8 billion won, or 37.3 percent of the total, went to companies set up within the last three years, while 292.8 billion won, or 29.5 percent, was invested at firms aged between three to seven years.
Among a total of 576 companies funded, 77.3 percent were companies set up within the last seven years, up 4.3 percentage points from the same period last year, it said. Nearly half, or 49.4 percent, were firms established in the last three years.
By sector, the information and communications technology service and the ICT manufacturing industries accounted for 21 percent and 4.4 percent of the total investment, respectively, up 2.1 percentage points and 0.6 percentage point from the same period last year, the ministry said.
The investment in bio and chemicals industries, which account for 15.5 percent and 6 percent of the total funds, meanwhile, dropped 6 percentage points and 3.3 percentage points, respectively, it said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The investment in startups was tallied at 992.6 billion won (US$887 million) in the January-June period, up 1.8 percent from a year earlier, according to the data from the Ministry of SMEs and Startups.
The ministry said 369.8 billion won, or 37.3 percent of the total, went to companies set up within the last three years, while 292.8 billion won, or 29.5 percent, was invested at firms aged between three to seven years.
Among a total of 576 companies funded, 77.3 percent were companies set up within the last seven years, up 4.3 percentage points from the same period last year, it said. Nearly half, or 49.4 percent, were firms established in the last three years.
By sector, the information and communications technology service and the ICT manufacturing industries accounted for 21 percent and 4.4 percent of the total investment, respectively, up 2.1 percentage points and 0.6 percentage point from the same period last year, the ministry said.
The investment in bio and chemicals industries, which account for 15.5 percent and 6 percent of the total funds, meanwhile, dropped 6 percentage points and 3.3 percentage points, respectively, it said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
