Industrial Bank of Korea announced that it will invest USD 7.2 million (KRW 10 billion) in Furiosa AI, a South Korean AI semiconductor design company. This investment is part of the government’s policy to foster super-gap national strategic technologies, aiming to strengthen the foundation for advanced technological self-reliance and enhance the global competitiveness of future strategic industries.

An Industrial Bank of Korea official stated, “AI semiconductors are emerging as a core technology in the global market with the rapid spread of generative AI. Furiosa AI is drawing attention as a symbol of domestic technological self-reliance by refusing acquisition offers from major U.S. tech companies and pursuing the independent development and mass production of its AI chips.”

Industrial Bank of Korea recognized Furiosa AI’s technological prowess and growth potential early on, providing tailored financial support through various stages, including startup loans, venture capital investments, and technology financing. Notably, through ‘IBK Venture Loan,’ the first investment-loan hybrid product in the financial sector, the bank resolved liquidity gaps before product mass production contracts, providing a crucial stepping stone for growth.

An Industrial Bank of Korea official added, “Over USD 108 million (KRW 150 billion) was raised in investment for Furiosa AI. Industrial Bank of Korea’s strategic investment is expected to serve as a catalyst for securing K-semiconductor competitiveness and for the global leap of the domestic AI semiconductor industry.”

In-tae Kim, Vice President of the Innovation Finance Group, commented, “We will do our best to support venture startups so that excellent companies like a second or third Furiosa AI can emerge. We will continue to support technological innovation and the development of the startup ecosystem as a growth partner for promising venture startups.”

Meanwhile, Industrial Bank of Korea provides various financial and non-financial services to discover and nurture venture startups with high growth potential. Since 2023, the bank has supplied a total of USD 1.8 billion (KRW 2.5 trillion) in venture capital over three years, contributing to the revitalization of the domestic venture investment market. Starting in 2024, it has introduced a public investment program to create funds that focus on strategic industrial sectors such as AI.

Furthermore, through IBK Changgong, a leading platform for nurturing South Korean venture startups, the bank has discovered and nurtured over 1,000 innovative startups to date, with approximately 15% of them being promising startups in the AI field.