Huobi Group Decides to Invest into South Korea-China Fund

Jun 04, 2018

Huobi Group made an announcement that it made an agreement to invest into Kiwoom-NewMargin global partnership private equity joint company (South Korea-China fund).
South Korea-China Fund is a fund worth $93.4 million (100 billion KRW) and it was established by Kiwoom Investment and a major Chinese venture capital called NewMargin Capital to help small and medium South Korean venture companies to extend their businesses to Chinese market.
Besides investment into South Korea-China Fund, Huobi Group is also going to help South Korean companies with extending their businesses to Chinese market in the future.
Through this investment, Huobi Group is planning to prepare foundation for blockchain startups with commercialization of their technologies and elevate South Korea’s blockchain industry through cooperation between South Korea and China.
Also, it intends to create jobs through investments and recruitment in order to do its social responsibilities best towards a problem regarding youth unemployment in South Korea and China.
NewMargin Capital, which is unfamiliar to South Korea, has about 300 investment portfolios in ICT, healthcare, and consumption fields based on its insights towards different industries and strong political and financial network.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com

Interpretation & Translation_Service Center

Refund Help Center