By: Bahk Eun-ji

Yu Sung-un has been appointed as new executive director of PR and investment management division of K Cube Ventures, a venture capital firm.

K Cube Ventures was established by Kim Beom-su, a chairman of Daum Kakao in 2012. Since its inception, it has invested into over 40 startups.

Daum Kakao announced it acquired 100 percent of K Cube Ventures at the beginning of the year, and the company has become Daum Kakao’s corporate investment arm.

K Cube Ventures said Yu’s 18-year-old experience in the venture capital industry will boost the values of the startups in which it has invested.

Before he joined K Cube Ventures, he worked for Solmine Communications as MandA consultant and investment management director for 6 years since 2009.

He was in charge of the investment plan for information and communication technology (ICT) venture companies at CJ Venture Capital, Timewise Investment and SoftBank Ventures Korea for 10 years since 1999.

At K Cube Ventures, Yu will manage both the PR team and investment management team to strengthen the company’s core capabilities.

“I’m excited to join the fast-growing K cube ventures in the startup eco-system. I’ll do my best for enhancing the value of startup companies, invested by K Cube Ventures with my 18-year experience in the industry,” Yu said.

Jimmy Rim, CEO at K Cube Ventures, also said the company expects it will be more focused on managing and supporting after investment for its family companies than before with him.

“It is our efforts to make more efficient communication with family startups as well as investors,” Rim said.

SOURCE: THE KOREA TIMES