Shinbo Selects 10 'Shinbo Star Companies' for 2021

[Asia Economy Reporter Kwangho Lee] On the 7th, the Korea Credit Guarantee Fund (KODIT) announced that it has finally selected 10 promising small and medium-sized enterprises (SMEs) as 'Shinbo Star Companies' that have pioneered independent business areas based on differentiated technology and investment despite difficulties such as the prolonged COVID-19 pandemic and worsening domestic and international economic conditions.

The Shinbo Star Company system is a program that selects companies with excellent future corporate value and high potential to grow into global mid-sized enterprises through management innovation, and continuously provides preferential treatment and support to nurture them into mid-sized companies.

This year’s Shinbo Star Companies include strong SMEs that have maintained steady growth based on their own technological capabilities, such as Sungil SIM Co., Ltd., a manufacturer of metal pipes for shipbuilding and marine use and pipe bending; ICH Co., Ltd., a manufacturer of film-type thin antennas for smart devices; and Net& Co., Ltd., a software development company providing IT security solutions such as access control and account management.

KODIT recruited 38 candidate companies this year through homepage applications and branch recommendations, conducted on-site evaluations and head office committee reviews for 28 companies that passed the preliminary screening. Then, through the final screening process of the selection committee, which included domestic and international experts from academia and related organizations, 10 companies with excellent vision and sustainable growth potential were selected as Shinbo Star Companies.

Since 2011, KODIT has selected a total of 149 companies as Shinbo Star Companies and has driven their growth into global mid-sized enterprises by providing various financial and non-financial support for five years from the selection date, including the application of the lowest guarantee fee rate (0.5%), preferential rates on corporate bonds issued with securitization company guarantees, a 20% discount on accounts receivable insurance premiums, and customized specialized consulting support. Based on this support, 11 of the 149 selected Shinbo Star Companies have been listed on KOSDAQ.

A KODIT official said, "KODIT’s role is to create quality jobs by nurturing excellent SMEs and to drive the sustainable growth of the national economy," adding, "We will do our best to foster global mid-sized enterprises."