SEOUL, KOREA - Yozma Group, a prominent Israeli venture capital, said on September 1 that it would establish a corporation in October and invest in excess of 1 trillion won for the next three years start-ups in Korea and beyond. For the first year of operation Yozma (meaning "initiative" in Hebrew) will form a fund of 300 billion won. Its Korean office will set up shop within the IFC Building in Yoido, Seoul. It will find and actively support tech ventures with growth potential for overseas expansion.

 

In order to make Korea a hub of Asian start-ups, Yozma will create a 6,600-square-meter Yozma Start-up Campus just like Google Campus. According to Yozma Group Korea, the location of the campus will be determined soon in one of the areas in Seoul, Incheon, or Gyeonggi Province. It is even contemplating an idea of establishing the campus in the Kaesong Industrial Complex or in the Demilitarized Zone.

 

Lee Won-jae, Yozma Group Korea president, said, "If things go as planned, we will be able to invest in more than 500 Korean companies and create more than 10,000 jobs for young talents."