Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
소아쌤

KT&G, Mirae Asset launch W40b matching fund

By Kim So-hyun

Published : Oct. 12, 2022 - 09:59

    • Link copied

The corporate logo of KT&G Corp. (KT&G) The corporate logo of KT&G Corp. (KT&G)

KT&G Corp. and Mirae Asset Financial Group launched a strategic matching fund to invest in startups and find new growth engines.

The two contributed 20 billion won ($13.9 million) each into the new fund which will invest mainly in health care and companies with good environmental, social and corporate governance.

Mirae Asset Capital will manage the fund, KT&G said in a press release.

KT&G said it will work together with Mirae Asset Capital in reviewing new areas of business, discovering companies to invest in, and executing the investment.

“We launched the fund to seek sustainable growth in the midst of a fast-changing business environment and to find new growth engines … The goal is to gain opportunities to enter new business areas while seeking synergy with existing our businesses,” KT&G said.

For the same purpose, KT&G has invested 27.5 billion won in 12 startups and 43 billion won in venture capital funds so far.

By Kim So-hyun (sophie@heraldcorp.com)

 

More from Headlines