The Korea Export-Import Bank has initiated direct investments in venture companies for the first time since its establishment, marking a significant step in enhancing its policy financing capabilities. The first investment target is Furiosa AI, a domestic AI semiconductor fabless company, aimed at supporting the government's AI transformation (AX) policy.
On June 30, the bank announced its decision to invest 20 billion won in Furiosa AI through the acquisition of redeemable convertible preferred shares (RCPS).
This investment became possible following the full implementation of the revised Korea Export-Import Bank Act and its enforcement decree on June 24. According to the revisions, the bank can now make direct investments without being tied to loans or guarantees. Previously, the bank could only invest in companies that received loans or guarantees, making it difficult to invest in venture firms with growth potential but lacking financial resources.
With this direct investment in Furiosa, the bank has established a portfolio that spans the entire AX value chain, from AI semiconductors to cloud infrastructure.
A bank official stated, "The recent revisions to the Export-Import Bank Act and its enforcement decree serve as a foundation to strengthen investments as a new pillar of external policy financing. We will actively engage in investments alongside the private sector to ensure our companies secure global competitiveness during this AI transformation period."
* This article has been translated by AI.
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