Kiwoom Securities is joining hands with Mirae Science Technology Holdings to expand the supply of venture capital for deep-tech technology companies.

Kiwoom Securities said on Sept. 9 it signed a strategic memorandum of understanding with Mirae Science Technology Holdings at its headquarters in Yeouido, Seoul, on Sept. 8 to expand productive finance and venture capital investment.

The agreement is part of Kiwoom Securities' strategy to strengthen productive finance by supplying growth funds to innovative companies and expanding the role of private venture capital. Kiwoom Securities is expanding cooperation with South Korean university technology holding companies to help channel funding into companies with technological capabilities and growth potential.

Mirae Science Technology Holdings is a public technology commercialisation company established with four specialised science and technology universities at its core: Korea Advanced Institute of Science and Technology (KAIST), Ulsan National Institute of Science and Technology (UNIST), Gwangju Institute of Science and Technology (GIST) and Daegu Gyeongbuk Institute of Science and Technology (DGIST).

It supports the commercialisation of research results held by universities and research institutes and helps technology companies founded on that basis to grow and attract investment.

Under the agreement, the two companies plan to jointly identify promising technology companies that could create new markets and expand funding through investment and capital market linkages.

Kiwoom Securities CEO Ju-sung Eom (엄주성) said, "We will expand investment in innovative companies through this collaboration." He added, "We will contribute to regional economic development by providing tailored financial solutions across a company's life cycle."