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The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman BANG, Moon-kyu, “Korea Eximbank”) announced April 6 that it would publicly select General Partner for a fund that will invest in healthcare and pharmaceutical sectors to back their competitiveness in global markets.
For the successful fundraising, Korea Eximbank is considering putting up KRW 100 billion won and pooling others in for the fund worth over KRW 400 billion.
The fund will focus on promoting the exports, overseas investment and overseas business of bio companies in the fields including immunotherapy and gene therapy, medical systems, diagnostic kits and reagents, and advanced medical devices.
Of the initial placement, KRW 25 billion will be allotted to a separate fund worth KRW 100 billion aiming to nurture venture companies.
Korea Eximbank Chairman Bang Moon-kyu said, "In the face of the global pandemic, Korea's excellent diagnostic technologies, medical systems, and ICT-based predictive disease modeling systems are drawing attention from around the world."
He added, “The new fund will boost investment in Korea’s bio industry and facilitate Korean companies’ entry into the global market."
Korea Eximbank posted the fund raising plan on its website. After selecting the General Partner for the fund, it will seek approval from the Minister of Strategy and Finance to finalize the investment.
Apart from its investment plan to support the healthcare and pharmaceutical industries, Korea Eximbank is planning a total of KRW 575 billion in direct and indirect investments this year to support the growth of sectors such as IT, overseas infrastructure projects and shipbuilding and marine.