Korea Development Bank, Industrial Bank of Korea and Export-Import Bank of Korea to each contribute 150 billion won
Fund manager selection expected in November
![Korea Development Bank Chairman Park Sang-jin (third from left) poses with heads of major institutions after signing an MOU to expand productive financing among six policy finance institutions at the bank's headquarters in Yeouido, Seoul, on Aug. 27. From left: Korea Trade Insurance Corporation President Jang Young-jin, Korea Credit Guarantee Fund Chairman Kang Seung-jun, Park, Industrial Bank of Korea President Jang Min-young, Export-Import Bank of Korea President Hwang Ki-yeon and Korea Technology Finance Corporation Standing Director Lee Sang-chang. [Korea Development Bank]](https://wimg.heraldcorp.com/news/cms/2026/09/07/news-p.v1.20260327.ddbef9a8d2a249a481cf9b44677d6a85_P1.jpg)
Korea Development Bank, Industrial Bank of Korea and Export-Import Bank of Korea announced Monday they will establish a "Policy Finance Institution Global Scale-up Cooperation Fund."
The three state banks will each contribute 150 billion won ($111 million), committing a combined 450 billion won toward a total fund size of 700 billion won.
The fund is designed to support government policy priorities including innovative growth and productive financing, with the banks combining their respective strengths to channel policy funds more efficiently where they are needed.
The initiative is one of seven key joint cooperation projects under the Policy Finance Institution Council, which launched March 27 to expand productive financing and identify collaborative projects among policy finance institutions.
The three banks will close their request for proposals on Sept. 30 and, following a joint screening process, select a fund manager in November.
The three banks said they will continue to play a leading role in the venture capital market in line with government policy while sustaining cooperation among policy finance institutions to expand innovative growth and productive financing.
Separately, Export-Import Bank of Korea plans to contribute an additional 300 billion won to establish a fund focused on AI and other advanced industries.
hyuk@heraldcorp.com
