The Korea Financial Investment Association said on the 22nd that it welcomes the passage of the bill amending the Capital Markets Act aimed at introducing Business Development Companies (BDC) through the National Policy Committee's bill review subcommittee. Both the government and political parties recognized the necessity of this amendment and introduced their own bills, which were then passed by a bipartisan agreement in the subcommittee.
BDC is a professional investment vehicle that fosters venture and innovative corporations with high growth potential. The financial investment industry expects that BDC will provide funding not only to venture and innovative corporations but also support in discovering companies and management consulting.
The Korea Financial Investment Association stated that it will establish a long-term and stable funding channel for venture and innovative corporations through BDC, and that it will strive to ensure there are no shortcomings in investor protection during the BDC investment and operation process.
Seo Yu-seok, president of the Korea Financial Investment Association, noted, "As the BDC bill has taken its first step through a bipartisan agreement, I hope that the National Assembly will handle the bill promptly so that the system can take root," adding, "Private funding will become the institutional foundation that can play a key role in corporate financing."