Red Electric, an accelerator targeting the semiconductor, battery, and display sectors, has confirmed it has garnered 2.5 billion won ($1.9 million) to establish its inaugural venture capital consortium, dubbed the 'Red Electric Battery First Investment Association'.
The start-up incubator aims to channel these funds towards promising early-stage firms within the battery materials, components, and equipment sectors, areas it anticipates will experience significant growth in the near term.
Red Electric's CEO, Joo-yeop Han, expressed optimism that the creation of this initial investment pool will pave the way for the development of South Korea's battery. . .
