As of July 19, 15 Companies... Record High, Proving the Second Venture Boom
[Asia Economy Reporter Kim Jong-hwa] Three companies, Zigbang, Dunamu, and Kurly, have emerged as new unicorn companies this year.
The Ministry of SMEs and Startups announced on the 22nd that as of July 19, 2021, the number of domestic unicorn companies reached a record high of 15.
As of the end of last year, there were 13 unicorn companies, and this year, three companies including Zigbang were added, while Coupang was excluded due to its listing on the New York Stock Exchange, bringing the total to 15 as of the 19th.
The 15 domestic unicorn companies include 11 companies listed on 'CB Insights,' which is commonly cited in international comparisons, as well as four additional companies identified by the Ministry of SMEs and Startups through investment industry sources and domestic and international media.
The newly born unicorn companies this year are Zigbang, Dunamu, and Kurly, which have rapidly grown in the fields of proptech, blockchain-based fintech, and online fresh food delivery, respectively, establishing themselves as leading companies in each sector.
Including the newly identified unicorn companies, the number of companies that have surpassed a valuation of 1 trillion KRW as unlisted companies increased to 23 as of the confirmation date this year (July 19).
Unicorn companies are defined globally as unlisted companies with a valuation exceeding 1 trillion KRW, so companies that have undergone mergers and acquisitions (M&A) or have been listed are excluded from the unicorn status. According to this criterion, Coupang, which was listed on CB Insights until March this year, was excluded from the unicorn status after its listing on the New York Stock Exchange.
Jeon Se-hee, head of the Investment Recovery Management Division at the Ministry of SMEs and Startups, said, "The birth of domestic unicorn companies in the first half of this year proves the second venture boom and is a good example showing that the economic structure paradigm centered on large corporations is shifting to one centered on ventures and startups." She added, "The Ministry of SMEs and Startups plans to supplement existing venture and startup-related systems to create an ecosystem where more technology-based startups can become new unicorn companies."
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