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Korea Herald

Banking groups pledge W1tr to government-led venture funding initiative

By The Korea Herald

Korea's five major banking groups pledged to commit a combined 1 trillion won ($675.3 million) to support the country's venture and startup ecosystem, joining a government-led push to revive venture investment with private capital. KB, Shinhan, Hana, Woori and NH Financial Groups signed a memorandum of understanding Thursday with the Financial Services Commission and the Ministry of SMEs and Startups, according to the companies and government agencies. Policy financing and guarantee institutions