New Releases, Six Promising Companies Selected as 'Innovation Icons'... "77 Billion KRW Support"

Support for 201 Companies... Competition Rate 33:1
Benefit of 0.5% Minimum Guaranteed Fee Rate Applied

Support Targets for Credit Guarantee Fund Innovation Icons. Photo by Shinbo

[Asia Economy Reporter Song Seung-seop] The Korea Credit Guarantee Fund announced on the 17th that it has selected six promising companies for the startup discovery and support program, ‘Innovation Icon’.

The ‘Innovation Icon Support Program’ is a project that discovers and supports startups with new technologies or innovative business models that have the potential to grow into the next-generation unicorn companies. It is the Credit Guarantee Fund’s representative unicorn nurturing project, providing support of up to 15 billion KRW.

A total of 201 companies applied for this Innovation Icon open recruitment, recording a competition rate of 33 to 1. The Credit Guarantee Fund conducted document screening and on-site inspections through a dedicated organization and finally selected six companies.

The selected companies are ▲ Saenghwal Research Institute (application-based home cleaning service) ▲ Seoul Robotics (development of autonomous driving LiDAR and 3D image analysis software) ▲ Superbin (AI-based recyclability detection) ▲ Skylabs (development of wearable devices capable of 24-hour heart monitoring) ▲ Open Edge Technology (semiconductor design blueprint supply) ▲ Wisely Company (subscription service for daily consumer goods).

The Credit Guarantee Fund explained that the selection was based more on future growth potential, technological differentiation, and business model innovation rather than past performance such as financial indicators. The level of ESG (Environmental, Social, and Governance) management was also reflected as an evaluation factor.

The six finally selected companies are expected to receive a total of 77 billion KRW in credit guarantees. The lowest guarantee fee rate (0.5%) will be applied, and additional loan interest rate benefits (0.7 percentage points) will be provided through six partner banks. Various non-financial services such as support for overseas expansion, consulting, and promotional activities will also be provided.

A Credit Guarantee Fund official emphasized, “After being selected as Innovation Icons, companies often accelerate growth in sales, employment, and investment or advance their IPO timing,” adding, “We will continue to strive to help promising startups overcome funding difficulties and achieve rapid growth.”