The South Korean Ministry of SMEs and Startups (MSS) has established a $200 million (KRW 292.6 billion) Global Fund during a ceremony at the Korean Consulate General in San Francisco on Tuesday. The initiative aims to strengthen cross-border investment and cooperation between Korean and American startups.

The event brought together Minister OH Youngju, Consul General LIM Jung-taek, representatives from venture capital firms, and approximately 40 officials from related organizations.

New Global Fund to Support Korean Companies

The Global Fund ceremony featured the signing of establishment documents between Korea Venture Investment Corp. (KVIC) CIO SHIN Sang-han and three U.S.-based venture capital firms: Patron Management, Third Prime Capital, and ACVC Partners. These mid-sized firms, which specialize in emerging technologies like artificial intelligence and robotics, have committed to investing at least $30 million in Korean companies.

“Korean startups have exceptional technology and global competitiveness in advanced industries, making them highly attractive for investment,” said Brian CHO, CEO of Patron Management, following the ceremony.

The fund represents part of a larger initiative by MSS, which selected 15 venture capital firms globally to manage the Global Fund in 2025, investing KRW 150 billion through KVIC. Similar events have already taken place in Singapore and Japan.

As of February 2025, the Global Fund has launched 73 funds totaling over KRW 12 trillion and has invested more than KRW 1.3 trillion in 642 Korean companies.

Strategic Partnership Between UKF and KVIC

The event also featured the signing of a Memorandum of Understanding (MOU) between the United Korean Founders (UKF) and KVIC to support Korean startups entering the U.S. market.

Founded in August 2024, UKF comprises approximately 1,500 Korean-American investors and startup founders. The organization hosts the “UKF 82 Startup Summit” biannually, alternating between Silicon Valley and New York, to connect Korean companies with local Korean-American investors and entrepreneurs.

The MOU, signed by UKF Executive Director KIM Kwang-rok and KVIC CIO SHIN Sang-han, establishes a framework for supporting Korean startups’ U.S. expansion and facilitating exchanges between companies and investors from both countries.

“Korean companies are globally recognized for their technological prowess and creativity. At CES 2025, 151 Korean companies won a total of 208 innovation awards,” Minister OH highlighted in her speech. “MSS will continue to actively support our startups in expanding globally by raising over KRW 1 trillion annually for the Global Fund and fostering connections through networks like UKF.”

Supporting Korean Companies in Northern California

The events concluded with a meeting of the Northern California Korean SMEs and Startups Support Council, established following an MOU between MSS and the Ministry of Foreign Affairs in April 2024. The council represents one of 25 such bodies operating through Korean diplomatic missions worldwide.

Since its inception, the San Francisco council has held quarterly meetings, addressing 14 challenges and providing 49 pieces of critical information to Korean companies entering the region.

Minister OH expressed her expectations for the council: “San Francisco, as the global center of startups, is an ideal location for Korean companies to expand. We hope that the Northern California Korean SMEs and Startups Support Council will continue to play a vital role in supporting our companies’ successful entry into the U.S. market.”

The series of events underscores South Korea’s commitment to building global bridges for its thriving startup ecosystem and leveraging international networks to accelerate the growth of Korean technology companies abroad.