[Infostock Daily= Reporter Song Jeong-hoon] The Ministry of Health and Welfare announced that it plans to create a new fund worth 100 billion won to increase the international competitiveness of Korean bio-health companies and expand into global overseas markets.
The Ministry of Health and Welfare plans to create a new fund by recruiting 15 billion won of investment funds collected from existing funds and 25 billion won of investment funds from the Export-Import Bank.
To this end, the Ministry of Health and Welfare will announce the management company to operate the fund through Korea Venture Investment and Korea Export-Import Bank from 28th to 20th of next month.
Since 2013, the Ministry of Health and Welfare has invested 80 billion won to support the domestic bio-health industry and overseas expansion, and has created and operated five funds totaling 435 billion won.
The Ministry of Health and Welfare explained that there is no bio-health fund that has yet to be liquidated, but it has achieved results by recovering 51 billion won in investment funds so far through four years of investment and eight years of operation.
The Ministry of Health and Welfare will unify these five funds as 'K-BIO New Growth Fund' and name the new fund 'K-BIO New Growth Fund No. 6'.
Reorter Song Jeong-hoon boxr@infostock.co.kr
