KAMCO to foster innovative in-house ventures

KAMCO CEO Moon Sung-yu, fifth from left, poses with the firm's senior officials after signing an agreement to foster innovative in-house ventures at the firm's head office in Busan International Finance Center, March 10. Courtesy of KAMCO

By Lee Kyung-min

Korea Asset Management Corp. (KAMCO) signed a memorandum of understanding with the firm's senior officials to foster in-house ventures, the state run organization said Tuesday.

Under the memorandum, the firm will mobilize financial and manpower support to help successfully launch and provide for the stable operation of such entities tasked with enriching innovative corporate spirit and sustainable growth model development.

It will improve efficiency in manpower allocation to best help the workers stay motivated to learn and develop corporate strategies needed not only to stay competitive but also fulfill corporate responsibilities by creating jobs.

Consultations will be arranged with in-house and outside experts whose specialties encompass IT, software development and business management.

It will increase funding to bolster effective corporate management and strengthen overall infrastructure. An office space will be provided to help them concentrate on the new work.

“We adopted the in-house venture program in March 2018, a first for a state-run financial organization. We will continue efforts to set an exemplary model for our peers,” KAMCO CEO Moon Sung-yu said.