[Incheon] Startup Investment 'Incheon Parent Fund' Has Exceeded KRW 1 Trillion

The size of the subsidiary fund of the Incheon Big Wave Parent Fund, a local government-led start-up investment fund, exceeded KRW 1 trillion.

Incheon City announced that it has created a big wave parent fund with the goal of investing 60 billion won for four years from 2021 to foster venture and start-up companies, exceeding 1 trillion won earlier this month after 600 billion won last year.

The Big Wave parent fund has invested a total of 42.6 billion won in 36 private funds that invest in major industries in Incheon, including shared services, youth start-ups, and semiconductors, materials, parts, and equipment.

In addition, it has secured an investment worth 120 billion won under the terms of the investment, which obligates companies in Incheon to invest more than three times the amount of investment in Incheon.