Gov't launches US$ 2.7 bil. fund to help fund innovative startups

금융위 '성장지원펀드 3조원 규모 추진…연계대출 20조원 뒷받침'

The Korean government is creating a two-point-seven billion U.S. dollar fund to invest in innovative start-ups.
Today, the Financial Services Commission named eighteen private funds to manage the money.
They will provided support for startups at each stage of their growth cycle including incubation and scale up.
The fund was raised by both the public and private sector, with the private sector raising about 1-point-nine billion.
Along with the private fund companies, commercial banks will lend up to 18 billion dollars in loans to startups over the next four years.