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South Korea mulls USD748m fund of funds to boost VC investments


South Korea's Ministry of SMEs and Startups (MSS) has announced plans to invest KRW1tr (USD748.43m) in a fund of funds this year to bolster the country's venture capital sector. The MSS aims to raise feeder funds exceeding KRW2tr , while applying full-scale incentives to encourage venture capital firms to invest an additional KRW11tr by the end of 2022. The agency is also set to enhance research and development support for deep tech startups through its Super Startup 1000+ project and pursue regulatory innovations to facilitate entry into the global market. The MSS and the Financial Services Commission are preparing a plan to improve the financing environment for ventures/startups and improve their competitiveness through provision of additional funds and regulatory innovation.

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