Korea Development Bank and Shinhan Asset Management announced on the 23rd that they would invest 70 billion won through a notice on the selection of trustee asset management companies for the "Nuclear Power Industry Growth Fund" and plan to create a fund of over 100 billion won by selecting 1 to 2 management companies.

The Nuclear Power Industry Growth Fund will be established with a total size of 100 billion won according to the project plan announced at the 10th Policy Financing Support Council. 70 billion won of policy funds and 30 billion won of private funds will be injected. The fund is expected to invest in small and medium corporations and small modular reactor (SMR) related corporations in the nuclear industry.

Shinhan Asset Management is the organizing institution for selecting the trustee fund for the Nuclear Power Industry Growth Fund. The proposal submission will take place on June 5 from 1 p.m. to 4 p.m. After review, the final selection of the asset management company will be made by the end of next month.

Korea Development Bank and Korea Hydro & Nuclear Power noted, "We expect that investments to strengthen the competitiveness of the domestic nuclear power industry, including SMR, will gain momentum as a result of establishing a policy fund specialized in the nuclear power industry."

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