(MENAFN) Data showed that South Korea's startups and venture firms have received investments over USD1.39 billion last year on increased funding by international investors, Yonhap News reported.
According to the Small and Medium Business Administration (SMBA), a total of USD1.51 billion were invested in startups last year, surging by 18.4 percent compared to same period last year.
The number of startups that received investment also increased to 901 from 755 over the cited period, the data showed. Some 2.54 trillion won worth of investment funds for startups and venture firms were created last year.
Earlier, the government said it will set up a fund worth 6 trillion won for the purpose. For one, it will create a fund for tech startups tailored after the Yozma Fund, a global tech venture capital fund.
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