Hana Securities said on Tuesday it has been selected as a commissioned manager (Co-GP) for the South Chungcheong Corporate Growth Venture Fund promoted by Korea Venture Investment Corp.

The 19.1 billion won venture fund is being formed to invest in growth-stage companies in the South Chungcheong region. It is set to launch within the second quarter.

Hana Securities will take part as a joint manager (Co-GP) with K&Investment Partners. It plans to invest in promising companies focusing on South Chungcheong's strategic industries such as display materials and equipment, eco-friendly auto parts and biotech.

The fund's investment scope is expected to expand beyond South Chungcheong to Daejeon after matching commitments from Daejeon Investment Finance were confirmed.

Hana Securities plans to use its participation in managing the fund as a chance to expand investment in regional innovative companies, focusing on the Chungcheong region.

It plans to identify investment opportunities at each stage, from technology-based startups to growth-stage companies. It also aims to contribute to revitalising the regional investment ecosystem.

Jeong Young-gyun (정영균), head of Hana Securities' IB Group, said he expects participation in managing the venture fund to expand investment opportunities in innovative companies in the Chungcheong region and help strengthen the competitiveness of regional industries. He said the firm will continue to expand productive finance by increasing the supply of private venture capital to contribute to the growth of region-based innovative companies and balanced economic development.