Policy News

Policy News
S. Korea to set up 3.5 trl won fund to help startups
SEOUL, Jan. 18 (Yonhap) -- South Korea will establish a 3.5 trillion won (US$2.9 billion) fund to nurture startups and venture firms in the science and technology sectors to secure new growth engines, the science ministry said Wednesday.

Under the comprehensive plan announced by the Ministry of Science, ICT and Future Planning, the fund will be floated to help young jobseekers launch 50,000 new startups. The ministry said it will partner with the Small and Medium Business Administration to nurture the fund that is aimed at bringing more investment and creating more jobs. The fund will focus on establishing infrastructure for basic science, new-growth sectors and assisting venture firms, the ministry added.

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[January 18, 2017]

Source - Yonhap News