The Financial Services Commission reported on the 27th that Kim Byeong-hwan, the Chairperson of the Commission, visited Silicon Valley in the United States and met with the world’s largest corporate venture capital (CVC), assessing that a model for the growth of both corporations and venture businesses is taking shape.
On the 24th, Kim, who is currently visiting the United States, met with Anthony Lin, the Chief Executive Officer (CEO) of Intel Capital, the world’s largest CVC in Silicon Valley, discussing investment strategies, areas of investment interest including artificial intelligence (AI), and opinions on the co-growth model through CVC. He noted that "many global corporations in the U.S., including Intel, are investing in and nurturing venture businesses."
Intel Capital, Intel’s corporate venture capital organization, is building strategic partnerships through investments in equities of over 1,800 startups related to Intel's core technologies, amounting to more than $20 billion. Kim stated, "The Korean government has also announced policies to activate CVCs like Intel Capital and plans to swiftly and boldly pursue remaining relevant tasks," stressing the need to accelerate the establishment of a capital-centered economic and financial structure.
Prior to this, Kim held meetings with local venture capital (VC) firms and established Korean VC firms in the U.S. to discuss strategies for developing the overall venture ecosystem and building a cooperative investment network between Korea and the U.S. Attendees noted that in Silicon Valley’s venture ecosystem, aside from initial public offerings (IPOs) and mergers and acquisitions (M&A), investments in venture capital through secondary markets are actively taking place, contributing to the sustainable supply of liquidity through various forms of exit markets that aid in the virtuous cycle of the venture ecosystem.
Kim stated, "I will work to strengthen the overseas expansion capabilities of institutions like the Korea Development Bank and the Industrial Bank of Korea, which can play a key role as contact points in the Korea-U.S. network of the venture ecosystem, and support policies for private financial companies to expand overseas." He had previously attended NextRound, the largest domestic venture platform, in Silicon Valley on the 23rd to connect startups and VCs for supporting innovative businesses and launched K venture sales.
Kim expressed to global investors, "I believe they will recognize the growth potential of Korean venture companies filled with passion and a willingness to innovate," and added, "I hope to form a close network between innovative entrepreneurs and investors in Korea and the U.S. that fosters a cooperative relationship for mutual growth."