Samsung Electronics, SK Hynix Create 200 Million Won Fund for Semiconductor Industry. (Image: Yonhap)
SEOUL, Aug. 22 (Korea Bizwire) – The Korea Semiconductor Industry Association (KSIA) announced today that an investment forum specially devoted to the nurturing of startups and venture capital firms in the semiconductor industry will be launched in the near future.
The purpose of the forum is to offer a variety of services such as management consulting, marketing tactics, and R&D support to its members.
The deadline for registration was August 18. The KSIA revealed that 132 companies, the majority of them in the semiconductor industry, had applied for membership. Applicants from other industries were mostly tech-based and included sectors such as robotics, artificial intelligence, and augmented and virtual reality.
The forum will be funded by a 200 million stake heavily subsidized by Samsung Electronics and SK Hynix, two members of the KSIA.
Companies will be divided into stages of development and their needs will be individually assessed.
Official investment of the funds is expected to begin next month. The “fund manager” for companies in their beginning phase was already appointed in May. The position for “incubating” companies (growing companies) has not yet been filled.
The forum will also provide investment relations consulting and asset management support to member companies.
A spokesperson for KSIA said, “The plans for the investment forum and the fund for the semiconductor industry were already put in motion last year. [The initiative] has taken on greater meaning for its similarities with the new government’s insistence on simultaneous [economic] growth across all sectors.”
The forum will also provide investment relations consulting and asset management support to member companies. (Image: Yonhap)
S.B.W. (sbw266@koreabizwire.com)
