MOIS pushes to launch 10.5 billion won 'National Safety Industry Fund No. 1'

[Financial News]  The Ministry of the Interior and Safety (MOIS) is pushing to establish a 10.5 billion won fund, the 'National Safety Industry Fund No. 1,' to invest in disaster safety companies with advanced technologies such as artificial intelligence (AI) and robotics. The fund will be created by combining 5 billion won in government capital with 5.5 billion won in private capital, forming a dedicated investment fund for the disaster safety sector.
MOIS said on the 31st that it will set up the National Safety Industry Fund No. 1, which is managed under the Fund of Funds' National Safety Account. Based on MOIS capital, the fund will attract private investment and channel it into companies in the disaster safety sector.
Hyundai Motor Securities will manage the fund. Korea Venture Investment Corp., the operating body of the Fund of Funds, selected Hyundai Motor Securities as the manager after a public call, document review, on-site due diligence, and a presentation review. It assessed the firm's ability to launch the fund early and its investment track record.
Hyundai Motor Securities plans to combine 5 billion won in government capital and 5.5 billion won in private capital to form a 10.5 billion won fund within three months before beginning investments.
The main investment targets are disaster safety companies with advanced technologies such as AI and robotics. The money will be used to improve technologies and products, expand marketing, and secure certifications and patents. MOIS said it aims to support corporate growth and encourage follow-on investment through the fund.
MOIS plans to continue expanding the size of the National Safety Industry Fund, starting with this first fund. Park Hyung-bae, head of the Safety Prevention Policy Office at MOIS, said, "I hope this fund will serve as a springboard for disaster safety companies with outstanding technologies to grow." He added, "We will actively leverage the capabilities of specialized fund managers to foster Korea's disaster safety industry."


[email protected] Lee Bo-mi Reporter