The Korea Electronics Technology Institute (KETI, President Kim Young-sam) has invested 43 billion won in electronics, IT, and small and medium-sized enterprises (SMEs), diversifying its corporate development methods beyond existing R&D and technology remediation efforts.

KETI announced on the 12th that it signed a 'Business Agreement for the Management of the 2021 KETI Electronic Technology Innovation Growth Fund' with Evergreen Investment Partners (CEO Hong Jong-guk) at its headquarters in Seongnam, Gyeonggi Province.

To commemorate its 30th anniversary this year, KETI launched the Electronic Technology Innovation Growth Committee, which oversees investment in promising domestic companies. The plan is to diversify corporate cooperation methods, such as participating in investment funds, moving beyond the existing technology support method that focused on joint research and development and support for challenging technologies.

Evergreen Investment Partners is a leading venture capital (VC) firm supporting early-stage startups. It specializes in investing in and fostering companies in promising fields such as ICT, VR/AR, and medical/biotechnology.

With this agreement, KETI plans to invest 1 billion won in the 43 billion won ‘Evergreen Investment Partners 4th Fund’ established by Evergreen Investment Partners to support the innovative growth of domestic materials, parts, and equipment (SME) companies.

Evergreen Investment Partners, a fund management company, invests a total of KRW 15 billion or more in the form of newly issued stocks or equity shares in domestic electronics, IT, and small business companies.

In particular, at least 3 billion won of the 15 billion won will be invested in small and medium-sized enterprises that have maintained technological cooperation with KETI, such as KETI technology transfer companies and startups within KETI, thereby contributing to the development of the domestic electronics and IT industries.

The two organizations agreed to cooperate not only in discovering promising companies, but also in continuously nurturing invested companies through technology transfer, joint development, and expert networking.

KETI President Kim Young-sam said, “KETI has been continuously collaborating with domestic small and medium-sized enterprises in the small and medium-sized equipment sector based on the technological innovation capabilities it has built over the past 30 years,” and added, “We will support the successful operation of the fund and contribute to building a platform that will enable domestic companies with high potential to advance into the global market.”