The government is hosting the Korea-Japan Venture Startup Investment Summit 2024 in Japan to strengthen cooperation between the two nations. They’ve agreed to establish a joint fund of USD 100 million (approximately KRW 138 billion). The Korea-Japan Joint Fund comprises contributions of USD 5 million from a Fund of Funds of Korea, the Japanese government’s investment agency Japan Investment Corporation (JIC), and the remainder from private investors in both countries.
This collaboration marks a historic first: a joint venture capital fund established by government agencies of Korea and Japan. The fund requires a minimum investment of USD 5 million per venture, with a primary focus on investing in startups from both Korea and Japan.
During the summit, the unveiling of K-Global Star, an integrated investment program of MSS that introduces Korean startups to overseas investors, took place for the first time. The inaugural event of the K-Global Star program will be held in Japan, followed by subsequent events in the U.S., Asia, and Europe throughout 2024. Starting from the latter half of 2024, the program will also extend to non-metropolitan areas in Korea where investment opportunities are limited.
At the event, twelve startups (six from Korea and six from Japan), selected by venture capital firms from both countries, had the opportunity to pitch their investments to investors from both nations during the Startup IR pitching session.
