The Ministry of SMEs and Startups on Feb. 13 said venture investment in the country last year jumped 9.5% to KRW 11.9 trillion. Shown is Minister Oh Youngju on Jan. 16 discussing how to boost fund and venture investment at a related meeting hosted by Korea Venture Investment Corp. in Seoul's Seocho-gu District. (Ministry of SMEs and Startups)

By Kang Gahui

Venture investment in the country last year saw its first growth in three years.

Such investment jumped 9.5% from 2023 to KRW 11.9 trillion, according to a report on domestic venture investment and fund formation trends in 2024 released on Feb. 13 by the Ministry of SMEs and Startups. The rise was the sector's first since 2021.

By quarter, venture investment in the fourth quarter of last year rose 5% from the third. Information and communication technology services led all sectors in growth with 38% thanks to expanded investment in artificial intelligence.

Despite the global decline in such investment, the amount raised in Korea reached KRW 10.6 trillion, showing comparatively stable flow.

To further stimulate venture investment, the ministry will expand policy support like its announcement early last month of budget of KRW 1 trillion to invest in a 2025 fund of funds, which buys shares of other funds rather than investing in a pool of securities like stocks and bonds.

kgh89@korea.kr