[THE INVESTOR] Hana Financial Group said on Dec. 29 it has set up a corporate venture capital unit focusing on information technology and health care.
Its 12th subsidiary Hana Ventures plans to kick off the 100 billion won (US$88.90 million) Fourth Industrial Revolution Fund in the first quarter of 2019 and operate 1 trillion won worth funds by 2021.
“As Korea’s economy depends on small and medium enterprises and venture firms, we will not hesitate to invest and support them through Hana Ventures and will do our best to help create an innovative ecosystem,” said Hana Financial Chairman Kim Jung-tai.
Corporate VCs directly invest in other private companies.
“Hana Ventures will be faithful to its role as a VC firm and will be a real partner of SMEs by providing initial investments for new technology enterprises,” said Hana Ventures CEO Kim Dong-hwan.
By Park Ga-young (firstname.lastname@example.org