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Finance

Woori Financial Group to pursue 7 trillion won productive investment from startup scouting to IPO

Woori Financial Group is accelerating support for the growth of innovative companies based on a 7 trillion won productive investment plan. It aims to build a linked support system spanning startup discovery, early and follow-on investment, scale-up and initial public offerings to meet funding needs by growth stage. Woori Financial is pursuing a project to provide 90 trillion won in productive and inclusive finance over five years and is detailing the 7 trillion won investment plan.

Finance

Shinhan Investment & Securities completes public growth fund subscription, raises allocation for low-income investors to 35 percent

Shinhan Investment & Securities completed subscriptions for the Public Growth Fund, a government policy financial product, it said on Thursday. It set the allocation for low-income investors at 35 percent of the 20 billion won total, above the government guideline of 20 percent. Of the allocation, 5 billion won came from offline subscriptions and 2 billion won from online subscriptions. The fund invests in domestic growth companies using public and policy funds.

Games & Commerce

Zero tax support for production costs; K-games face neglect despite 60 percent of content exports

South Korea\'s game industry, which accounts for 60.4 percent of the country\'s content exports, has been excluded for years from production cost tax credits that apply to video content and webtoons. The sector is growing slowly, usage rates are falling and small and mid-sized developers are going bankrupt as development costs rise. The Culture Ministry has submitted a proposal to the Finance Ministry, while lawmakers have introduced bills to expand tax credits and adjust related rules for games and e-sports.