S. Korea's Venture Investment Touches Record High in Q1 | Be Korea-savvy

S. Korea’s Venture Investment Touches Record High in Q1


The financial district of Yeouido in Seoul. (Yonhap)

The financial district of Yeouido in Seoul. (Yonhap)

SEOUL, April 27 (Korea Bizwire)South Korea’s investment in startups spiked nearly 61 percent in the first quarter of the year amid hopes of high returns, government data showed Tuesday.

A total of 1.25 trillion won (US$1.12 billion) was invested in promising venture firms and startups in the January-March period, up 61.1 percent from a year earlier, according to the data from the Ministry of SMEs and Startups.

It was the highest amount for the first quarter and the second-largest quarterly figure after the 1.41 trillion won for the fourth quarter of 2020.

The ministry said local investment in startups shot up in the first quarter amid a global venture boom.

Investment in the distribution, ICT, biopharmaceutical and medical sectors rose sharply as investors saw them as promising post-coronavirus industries.

The data also showed the number of venture investments soaring 37.8 percent on-year to 989 cases, with that of investment-receiving firms spiking 37.8 percent to 558.

The amount of created venture funds stood at 1.46 trillion won in the first quarter, up a whopping 186.7 percent from a year earlier, according to the data.

(Yonhap)

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