It has been confirmed that Doosan Infracore Vice President Park Jae-won, 34, the second son of Park Yong-maan, chairman of Doosan Infracore and concurrently chairman of Korea Chamber of Commerce and Industry (KCCI), recently established a venture investment company in Silicon Valley to invest in startups in earnest, the Chosun Biz reported exclusively on Sept. 30.
It is expected to compete in good faith with Silicon Valley investment companies affiliated with large companies such as Samsung Next, a venture investment organization under Samsung Electronics, which is actively engaged in investment activities around this region, and LG Technology Ventures, which is currently gaining power from LG Group Chairman Koo Kwang-mo.
Vice President Park established a venture investment company named "D20 Capital (D20)" with General Partner Cho Seong-joon in August, the media quoted multiple sources in the venture investment industry as saying.
Park will take charge of the company as a managing partner, which is representative of the company, and decide to invest directly with partner Cho. It is said that the company is currently looking for a place to invest, focusing on start-ups that can revolutionize traditional industries such as construction and manufacturing.
The office was set up in San Francisco City, dubbed the "Startup Holy Land," where the headquarters of global start-up companies such as Twitter, Uber and Airbnb are located. San Francisco City is the area where start-ups are the most active because of young developers who prefer big cities.
Park, the fourth generation of the Doosan family, worked as a consultant at the Boston Consulting Group (BCG), a global management consulting firm, after graduating from New York University in the U.S., and joined Doosan Infracore as a manager in 2013. He is in charge of discovering new businesses and digital innovation at the strategic team and was promoted to vice president in 2018.