Hebronstar Ventures sign MOU with Hite Jinro to identify and promote startups

Hebronstar Ventures a VC known to identify and promote promising startups has signed a MOU with Hite Jinro to jointly invest in start-ups. The completion of the contract is planned for the middle of December.

Hebronstar Ventures, which was founded in May 2016 is known for discovering and promoting early promising start-ups and runs a support program called TIPS, especially targeting technological start-ups.

Through this MOU, Hite Jinro will become a part of Hebronstar Ventures by becoming a stakeholder, and will support in continuing to discover and support start-ups and help run various programs aimed at promoting start-ups.

For its first order of business, Hite Jinro plans to open the H-co working space at its Seocho Office starting January 2018. The operation H-Co working Space will be operated by Hebronstar Ventures. Furthermore, Hite Jinro which will celebrate its 100 year anniversary, will apply its know-hows to identify and support viable start-ups through direct investments.

Kim Min-wook, the Hebronstar Ventures CEO sees this investment as a stepping stone to grow the start-up acceleration sphere and promised to continue to identify promising start-ups in the future.

Hite Jinro is Korea’s representative beverage manufacturer with Hite Beer, Dry Finish, Chamisul Soju in its portfolio of products contributing to its number 1 status. It is also the oldest beverage maker in Korea.