Assemblyman Kim Seong-won, "No Unicorn or Baby Unicorn Companies in Northern Gyeonggi"

Three Unicorn Companies and Ten Baby Unicorn Companies in the Province All Located in Southern Gyeonggi
Serious 'Regional Concentration' Phenomenon...Calls for Specialized Measures Tailored to Northern Gyeonggi Characteristics

[Asia Economy Reporter Ra Young-cheol] According to an investigation, among the 'Unicorn Companies' and 'Baby Unicorn Companies' selected by the Ministry of SMEs and Startups, there is not a single company located in the northern part of Gyeonggi Province.

On the 30th, according to Kim Seong-won, a member of the National Assembly from the People Power Party (representing Dongducheon·Yeoncheon, re-elected), the Ministry of SMEs and Startups added five companies, including 'Yogi-otdae Company' and 'Oasis', to the list of domestic unicorn companies on the 21st.

As a result, the total number of unlisted domestic companies with a corporate value exceeding 1 trillion won reached 32. Among them, there is not a single company headquartered in northern Gyeonggi, revealing a serious regional concentration phenomenon.

The locations of domestic unicorn companies to date are ▲Seoul 26 companies (81.3%) ▲Southern Gyeonggi 3 companies (9.3%) ▲Jeju 1 company (3.1%) ▲Others 2 companies (6.3%).

Among the 60 Baby Unicorn Companies, a core project of the Ministry of SMEs and Startups' 'K-Unicorn Project', there were also no companies located in northern Gyeonggi.

'Unicorn Companies' are unlisted companies valued at over 1 trillion won through venture investment. 'Baby Unicorn Companies' are unlisted companies valued under 100 billion won with high growth potential to become unicorn companies.

As of 2022, the locations of Baby Unicorn Companies are ▲Seoul 38 companies (63.3%) ▲Southern Gyeonggi 10 companies (16.7%) ▲Daejeon, Gyeongbuk, Jeonbuk 2 companies each (3.3% each) ▲Jeju, Busan, Gwangju, Chungbuk, Chungnam, Gyeongnam, Jeonbuk 1 company each (1.7% each), with no companies located in northern Gyeonggi.

All three unicorn companies and ten baby unicorn companies in Gyeonggi Province are located in southern Gyeonggi, showing a significant disparity between northern and southern Gyeonggi.

In response, Assemblyman Kim urged Lee Young, Minister of SMEs and Startups, during the National Assembly Industry, Trade, Energy, SMEs and Startups Committee briefing on the 28th to prepare specialized measures tailored to the characteristics of the northern Gyeonggi region.

Assemblyman Kim pointed out, "Northern Gyeonggi has always been neglected in government economic development policies due to its border area characteristics, and overlapping regulations such as the Capital Region Readjustment Planning Act, Military Facility Protection Act, and Development Restriction Zone Act have severely hindered the development of infrastructure such as roads, railways, and industrial complexes," adding, "The harsh environment of border areas and overlapping regulations is the cause of the underdevelopment of the SME and venture business growth ecosystem."

He continued, "Specialized measures are urgently needed for SMEs and venture companies in northern Gyeonggi who have endured special sacrifices in this harsh environment of border areas and overlapping regulations."