Venture Capital and Startup Investors from Major Corporations, Local Companies, and Alumni Firms Express Interest

A Total of KRW 10.5 Billion Pledged for Joint Investment in YU’s Glocal University Project

Establish Strong Partnerships for the Successful Implementation of the Glocal Project

[August 5, 2024]

Yeungnam University (President CHOI Oe-chool) is making a concerted effort to secure selection for the Glocal University 30 project by attracting significant investment.

On July 31, YU received Letters of Intent (LOIs) for investment from leading venture capital (VC) and startup accelerator (AC) firms across various sectors, including major corporations, local enterprises, and alumni-owned companies. This move has heightened expectations for YU’s selection in the Glocal University 30 project.

 The companies that submitted LOIs for investment include:

▲The Innovators Co., Ltd. (KRW 1 billion)

▲Lotte Ventures Inc. (KRW 1 billion)

▲Blue Whale Invest Co., Ltd. (KRW 2 billion)

▲Another Brain Co., Ltd. (KRW 2 billion)

▲Enlight Ventures Co., Ltd. (KRW 2 billion)

▲TBiz Co., Ltd. (KRW 2 billion)

▲EcoPro Partners Co., Ltd. (KRW 500 million)

The total investment pledged by these seven companies amounts to KRW 10.5 billion.

 The companies expressed strong interest and confidence in YU’s capabilities within the Glocal University project. Their decision to invest was driven by several factors, including:

▲Close alliances between region, industry, academia, and research institutions to foster regional industries and promote human resource exchange.

▲A tailored strategy for training professionals in regional strategic industries such as semiconductors, AI, and software.

▲Implementing life-long education programs to respond to changes in regional industry demands.

▲Providing customized startup support at different stages to build a vibrant entrepreneurial ecosystem.

▲Establishing a comprehensive management system for international students to promote global co-development with the local community.

CEO YOO Dong-ki of Enlight Ventures Co., Ltd. stated, "We hope that submitting this Letter of Intent will serve as a significant milestone in fostering collaboration between businesses and YU for regional development. We are confident in YU's strategy for nurturing industry-based talent and decided to invest with the belief that the Glocal University project will help achieve these goals. We will continue to support YU in realizing its objectives."

President CHOI Oe-chool of YU emphasized, "The interest and investment shown by these leading companies reflect their trust in Yeungnam University. This investment is not only significant for the Glocal University project's success but also as an investment in YU's future role in leading regional co-development. We will make every effort to cultivate talent that will drive regional growth and establish YU as a pioneering model for Glocal Universities through the development of advanced industries."

 Meanwhile, YU, along with Kumoh National Institute of Technology, has been selected as a preliminary university for the Glocal University 30 project, focusing on semiconductor and software talent development, regional advanced industry promotion, startup support, and the creation of a global youth village. Last month, the two universities submitted their final implementation plans for the project, with face-to-face evaluations and final selection processes scheduled to take place soon. YU is making thorough preparations for the selection and successful implementation of the Glocal University Project. These efforts include signing an agreement with Kumoh National Institute of Technology in mid-July and hosting a forum with 29 region, industry, academia, and research institutions.