Republic of Korea: Ministry of Science and ICT, Gyeongsangbuk-do, and Jeollabuk-do signed Memorandum of Understanding on promoting investment in local technology companies

On 11 April 2025, the Ministry of Science and ICT (MSIT), Gyeongsangbuk-do, and Jeollabuk-do signed a Memorandum of Understanding (MOU) to promote regional technology investment, with Gyeongsangbuk-do contributing KRW 30 billion and Jeollabuk-do KRW 15 billion to the 5-3rd Research and Development (R&D) Special Zone Fund (Yeonghonam Regional Fund), totalling KRW 500 billion. The agreement focuses on utilising the R&D Special Zone Fund to support regional innovative companies, accelerate technology commercialisation, and strengthen public-private collaboration. Investment targets include early-stage enterprises (under 7 years or with annual revenue below 100 billion KRW), businesses within Yeongnam and Honam R&D Special Zones, and firms advancing national strategic technologies or United Nations (UN) Sustainable Development Goals (SDGs). A subsequent policy discussion session was held to share fund operation strategies and explore ways to expand venture capital (VC) participation in regional investments.