IBK Industrial Bank of Korea's first "SAFE" investment target is CALAB

IBK Industrial Bank of Korea's first "SAFE" investment target is CALAB
[Baby Times = Reporter Hwang Ye-chan] IBK Industrial Bank of Korea (Bank President Yoon Jong-won) announced on the 2nd that it has selected CALAB (CEO Lee Seunguk) as the first investment target for SAFE.

SAFE (Simple Agreement for Future Equity), which was introduced in Korea in August last year due to the revision of the Venture Investment Promotion Act, is a famous investment method in Silicon Valley in the U.S.

It is evaluated as an "innovative investment system" because the stake of investors who invested first is determined by the corporate value determined by the follow-up investment, which is difficult to calculate corporate value.

CALAB, the first investment target of SAFE by Industrial Bank of Korea, is a company that develops ventilation and clean products based on simulation predicting air quality and independent filter design. In the first half of this year, it was selected as an innovative company for "IBK Changgong" and received support for programs to foster start-ups.

It is heard that CALAB plans to use this investment fund to operate the company and develop new products and technologies.

An official from the Industrial Bank of Korea said, "Like the advertising slogan 'For companies that the world has not yet recognized', we plan to support the growth of innovative companies with rapid SAFE investments in early start-ups that have high technology and growth potential."