Startup Fund
Mirae Asset Financial Group has decided to launch an investment fund worth 100 billion won (US$84.1 million) with Naver to support the advancement of future technology industries, including artificial intelligence (AI) and Internet of Things (IoT).
Mirae Asset said that the two companies will contribute 50 billion won (US$42.05 million) each to establish the fund as part of its strategy to make a profit by investing in start-ups that show potential in rapidly emerging industries such as AI, IoT, robot, virtual reality (VR), self-driving cars and health care. It is also expected to invigorate the new growth engine industries.
Mirae Asset will manage the fund. Staring with the cooperation with Naver, Mirae Asset Chairman Park Hyeon-joo plans to invest 10 trillion won (US$8.41 billion) in companies related to new future growth engines in the next 10 years.