Hello everyone,

I am Shin Sung-won, CEO of POSCO Technology Investment, Chairman of the CVC Alliance. Thank you for visiting the CVC Alliance website.

To explain the role of CVC and its industrial significance, corporate venture capital (CVC) plays an important role in helping companies strengthen competitiveness in their existing business areas and continuously discover and foster new businesses for the future. Through CVCs, we can discover new technologies and new industry opportunities from the outside, and gain dynamic capabilities to connect internal and external resources and knowledge.

Next, I would like to talk about the investment plans of the CVC Alliance. Despite the difficult economic conditions, the domestic CVC industry plans to actively invest in the future of our industry through internal funds and external investments. According to the fundraising plans of 42 companies participating in the CVC Alliance, a total of KRW 7 trillion is planned to be invested between 2023 and 2025. This is based on a CVC survey conducted by KITIA in July.

We are also committed to supporting startups throughout their entire growth cycle. CVC parents and affiliates are participating together to support scale-up and value-added companies throughout the entire life cycle, including validation of investment-linked technologies, strengthening of commercialization capabilities, and domestic and international networks.

The CVC industry will continue to actively work to strengthen the domestic startup ecosystem and become the centerpiece of the national innovation ecosystem.

Acknowledgments.