The Ministry of Trade, Industry and Energy said Vehicular Solutions Innovated (VSI) has become the first company to receive investment from its system semiconductor co-growth fund.
VSI received 1.5 billion won in funding.
The ministry created the 100 billion won fund in April. Samsung Electronics put in 50 billion won, SK Hynix 30 billion won and Korea Growth Investment put in 20 billion won. GU Equity and P&I Investment are managing the fund.
The fund is dedicated to investing in system semiconductor companies only.
VSI produces network chips for automobiles. The company plans to invest in developing advanced drivers assistance systems for autonomous vehicles and new intellectual property in data telecommunication chips for cars with the funds.
The fund will invest in semiconductor companies working on goods for AI, automobile, power and telecom applications, the ministry said.
