New Venture Hub
The Yozma Group signed an MOU on Sept. 18 with One Asia Investment Partners, a Singaporean asset management company, for joint investment and start-up support in emerging Asian countries including Korea. The former recently set up a branch office in Korea to make venture investment of 300 billion won (US$288 million) a year.
During the signing ceremony, the Yozma Group announced that it would cooperate with One Asia for the development of a startup hub in Korea by means of startup assistance, job creation, information exchange for business incubation, joint investment and R&D, global networking, and establishment of the Yozma Start-up Campus.
One Asia is currently engaged in overseas real estate development, bond and hedge fund management, PEF-based venture investment and the like. Its main investment targets include emerging countries in Asia, and it has branch offices in Korea and New York. It recently acquired Phoenix Asset Management, a mid-size asset management firm headquartered in Korea.
In the meantime, the Yozma Group is planning to invest 1 trillion won (US$961 million) in Asian countries for three years to come, while setting up a venture capital corporation in Korea before the end of October. Also, it is going to run the Yozma Start-up Campus in Korea to help Korean and many other Asian venture firms make inroads abroad.