Joint Korea-Japan fund bets big on Jeju Island's tech startups

Long celebrated for its volcanic peaks and coastal tourism, Korea’s Jeju Island is engineering a new identity as a cross-border tech incubator. Local authorities said Friday that a newly launched 10.1 billion won ($7.3 million) venture fund — backed jointly by Korean capital, local enterprises and Japan-based ethnic Korean investors — has deployed its debut capital investment, signaling a fresh pipeline of cross-border funding for regional entrepreneurs. The fund's premier investment goes to Seropim, an artificial intelligence (AI) startup specializing in 3D content creation tools aimed at the global media and gaming markets. Jointly managed by the Jeju Center for Creative Economy and Innovation and Sevenstar Partners, the fund selected Seropim after a rigorous screening process involving more than 15 investor pitch sessions and detailed financial audits. The Startup Korea Korea-Japan Jeju Fund was established specifically to solve a chronic hurdle for regional entrepreneurs: securing early-to-mid-stage capital while building bridges to international markets, particularly Japan an