Lee Chang-yang, Minister of Trade, Industry and Energy, speaks during an inauguration ceremony for a corporate venture capital (CVC) alliance consisting of 42 CVC firms at Lotte Hotel in central Seoul, Monday. [MINISTRY OF TRADE, INDUSTRY AND ENERGY] Korea's corporate venture capital (CVC) firms and the government will band together to create an 8 trillion won ($6.2 billion) venture fund for local startups by 2025. The announcement was made by the Ministry of Trade, Industry and Energy on Monday during an inauguration ceremony for a CVC alliance consisting of 42 CVC firms including Posco Capital, CJ Investment, GS Ventures and Hyundai Venture Investment.

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