The K-Fund 1 will be operated by Korelya Capital, an investment firm established by Fleur Pellerin, the former Korean-born French minister overlooking small and medium enterprises and the digital economy, who resigned from the post in August.
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The two firms pinned high hopes on the fresh investment that they wish would pave the way to expand their presence in the European market.
The minister plans to hold a news conference in Seoul about the fund and its future plans on Sept. 30.
By Lee Ji-yoon (email@example.com)