Startup
POSCO Holdings, KDB Sign Pact to Boost Battery Startups
Dong-A Ilbo |
Updated 2026.05.14
POSCO Holdings on the 14th signed a business agreement at Ground Gwangyang with Korea Development Bank to revitalize the local venture ecosystem. From third left, Lee Bong-hee, Senior Executive Vice President of Korea Development Bank, and from fourth left, Lee Joo-tae, President of POSCO Holdings. Provided by POSCO Holdings.
POSCO Holdings announced on the 14th that it had signed a memorandum of understanding (MOU) with Korea Development Bank at “Ground Gwangyang,” a venture start-up incubation center located in Gwangyang, South Jeolla Province. The two sides agreed to cooperate in building a sustainable venture ecosystem by improving investment accessibility for start-ups outside the Seoul metropolitan area and fostering innovative companies based on local industries.The signing ceremony was reportedly attended by Lee Joo-tae, President and CEO of POSCO Holdings, Go Jae-yoon, Head of POSCO Gwangyang Steelworks, Lee Bong-hee, Senior Executive Vice President of Korea Development Bank, as well as representatives of venture companies and officials from investment institutions, totaling around 110 participants.
The agreement was prepared to link POSCO Group’s venture nurturing capabilities with Korea Development Bank’s financial support infrastructure, in order to identify promising local start-ups and strengthen systems that support their growth.
Under the agreement, the two sides plan to pursue: ▲ review by Korea Development Bank of direct investment and loans for local start-ups in which POSCO Group invests or which it recommends ▲ support for attracting investment through KDB’s region-specialized venture platform ▲ linkage of local start-up incubation programs and joint discovery of promising companies.
Following the signing ceremony, an investment briefing (IR) session was also held for five venture companies recommended by POSCO Group. Companies in the secondary battery materials, bio, and robotics sectors took part in the presentations, and these companies are either currently tenants at Ground Gwangyang or in the process of moving in, according to reports.
Lee Joo-tae, President of POSCO Holdings, stated, “POSCO Group has been striving to foster venture companies in the steel and secondary battery materials sectors, while discovering new businesses through the open innovation platform ‘Changeup’,” adding, “Through this cooperation, we will further strengthen the foundation for investment attraction and growth support for region-based venture companies, and contribute to revitalizing the local economy and achieving balanced national development.”
According to POSCO Group, it has been investing in the development of the venture ecosystem since 1997 and, following Seoul and Pohang, additionally opened the ‘Ground’ start-up incubation center in Gwangyang in November last year. To date, a cumulative total of 198 venture companies have moved in, achieving investment attraction of KRW 352.8 billion, a combined corporate value of KRW 2.4 trillion, and total employment of 1,977 people, the group reported.
Hwang So-young
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
ⓒ dongA.com. All rights reserved. Reproduction, redistribution, or use for AI training prohibited.
Popular News
