Korea Development Bank (KDB) announced on April 18 that it has launched a joint investment council with Korean venture capital firms to discover and foster startups.
"We have launched a joint investment council to help startups grow into unicorn companies without relying on overseas investment capital,” said Sung Joo-young, a KDB vice president, during a launching ceremony for the council. "We will develop the council and attract more organizations, contributing to the creation of a venture ecosystem in Korea."
Venture capital companies participating in the council include Korea Investment Partners, Smile Gate Investment, Intervest, KTB Network, IMM Investment and LB Investment.
KDB plans to jointly discover promising startups and promote investment through the council.