South Korea’s investment in startups jumped 34 percent from a year earlier in the first quarter, government data showed.

A total of 2.62 trillion won ($1.88 billion) was invested in promising venture firms and startups during the January-March period, up from 1.96 trillion won a year earlier, according to the data from the Ministry of SMEs and Startups.

It was the second-highest amount ever recorded for a first quarter, following 3.92 trillion won in 2022, when local startup investment surged amid a global venture boom.

By industry, investment in films, performances and music increased significantly, while investment in the chemical and materials sector declined in the first quarter compared to the same period last year. (Yonhap)