Legal Justia Co., Ltd. (CEO Sohyun Shin) announced that it has been selected as a Step-Up Challenge Company by the Korea Credit Guarantee Fund and will receive 1 billion KRW over three years.
This program is a representative startup support system of the Korea Credit Guarantee Fund that closely nurtures promising companies with creative ideas and technological capabilities, which have outstanding business competitiveness and are expected to grow in new business fields. It is a support program just before the First Penguin stage, providing up to 5 billion KRW to companies in the early commercialization phase within three years.
Legal Justia Co., Ltd. was recognized as a business model that will innovate the market by the Korea Technology Finance Corporation right after its establishment and received funding, and once again has been acknowledged for its corporate value, technology, and growth potential.
According to the company, Legal Justia uses artificial intelligence to understand situations expressed in colloquial language by people without legal knowledge, extract facts through question-and-answer processes to grasp factual relationships, and generate legal documents such as complaints based on that information.
In the legal market, where it is difficult to secure data for AI learning due to the lack of publicly available data, the company secured a large amount of data through numerous consultations with potential customers over several years, utilized the expertise of former prosecutors and legal professionals, possesses top-tier technology in Korean natural language processing, and established and executed a well-balanced strategy from multiple angles, including marketing that accurately identifies and meets customer needs. These factors were cited as reasons for its selection.
Sohyun Shin, CEO of Legal Justia Co., Ltd., stated, “Due to the inherently closed nature of the industry, talented individuals have been reluctant to take the thorny path, and the market has been neglected from an IT perspective. Applying artificial intelligence to this market has great potential to bring about innovation, and the characteristics of customers show clear differences from general industries. We will take the lead in making it easier for people to claim their legal rights through future customer profiling.”
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