According to Edelweiss, one of the primary targets of the platform is to find and invest in economically feasible, premium projects and aid them with funds and project management expertise.
Edelweiss Alternative Asset Advisors (EAAA) along with South Korea’s Meritz Financial Group launched an initial fund of its financing stage, aiming for $425 million. The platform is to comprise finances for buying home property loans and offer essential project-ending finances to high-grade, economically fruitful projects.
The platform’s funds will be controlled by Edelweiss’s Alternative Asset Management business. The aim is to collect $1 billion, mainly from similar global institutional investors, in the coming 1 year.
Among the key objectives of the platform is the identification of and investment in saleable, high-standard schemes and provide funds and project management proficiency.
Edelweiss said that this is its first alliance with an Asian institutional investor. Over the past few months, Edelweiss has also associated with international institutional investors like CDPQ in its lending trade, US-based Kora management in its investment consultancy business and Arthur J Gallagher in its insurance consultancy business.
South Korea and the Philippines came together to execute an MoU on renewable energy cooperation, signed in Seoul in June 2018.
South Korea’s Ministry of Trade, Industry and Energy stated that its vice-minister, Cheong Seung-il and Philippine’s Defense Undersecretary, Cardozo Luna signed the executive contract in Seoul on Oct 25.
South Korea, with the help of this MoU, is supporting DND’s (Department of National Defense) drive to develop a solar photovoltaic and other platforms of renewable energy generation. The purpose of this is the supply of electricity to military establishments and neighboring regions. Particularly, South Korean entities can participate in developing 100 megawatts power generation projects.
The MoU was one of the many agreements that were officially endorsed during President Duterte’s visit to Seoul in 2018.
The Korean Intellectual Property Office announced its plans to push the competitive power of the domestic supplies, components and equipment industries and make them depend less on foreign technologies by way of IP big data.
As per the country’s top IP office, it has four goals: less dependence on foreign materials, component and equipment-based engineering; make South Korea’s R&D more IP-focused; reinforce IP competition of small and mid-sized companies and develop an IP infrastructure for a rational economy.
KIPO’s decision is based on continuous international issues around technological
domination by major economic powers, pushing countries’ fight for IP rights. It
emphasized on a national strategy for swift IP acquisition.
It also stated apprehensions about South Korea’s trade, burdened by its
equation with Japan and increasing competition between world economies such as
the US and China in the run for exclusive rights of advancing technologies.
KIPO’s IP big data provisions will include more than 100 kinds of materials, parts and equipment research and development. Using this, even SMEs can develop their technologies.
It will also help companies broaden their supplies through options to key
materials, joint-ventures and acquisitions or by technology transfers for
products that are not easy to be manufactured locally.
KIPO will also assist companies in identifying technological innovations
through IP big data that could be instrumental in leading the new market.
Big data benefits are also intended for bio-health and secondary batteries, government departments and private R&D companies.
To boost local SMEs’ IP effectiveness, KIPO plans to grow the state budget for IP-supported financing from 700 billion won ($598 million) in 2019 to 2 trillion won by 2022, to use the system to streamline SME’s IP-backed loans and investment.
For maximizing public participation in IP investment, it plans to come up with funds
for businesses and individuals to obtain patents abroad.
To bring about a fair economic order, KIPO endeavors to stop technology theft and further safeguard IPs of innovative businesses to foster creative businesses and technologies. It will also more stringent laws and penalties for IP theft.
In the words of KIPO Commissioner, Park Won-joo “As nations with developed IP systems, such as the US and the UK, have led the past three industrial revolutions, a country that will become a leader in new technologies including artificial intelligence and big data will lead the ‘fourth industrial revolution’ and global technology,”.
He further stated that KIPO will make every effort to help nurture South Korea into a foremost country of technology in the international market, in terms of IP.