Hyosung joins effort to help game start-ups’ China expansion

[THE INVESTOR] Hyosung Group, a South Korean industrial conglomerate, and North Jeolla Province have joined the efforts to help local game start-ups gain a foothold in China.

Hyosung Group and four other organizations, including South Jeolla Provincial Office and HN Games, formed a business agreement on July 7 at the Jeonbuk Creative Economy and Innovation Center, the company said. 

Under the plan, Hyosung plans to invest 1 billion won (US$ 864,650). The company, in partnership with the organizations, will select local start-ups to support their technology research and development, sales in China and the expansion of their business network abroad.

“Through this investment, I hope more youth jobs will be created and excellent start-ups will emerge that will dominate China and other international markets,” Ga Jong-hyun, executive director of Hyosung, said.

By Ahn Sung-mi (sahn@heraldcorp.com)