Lifac Selected as First Penguin Company by Korea Credit Guarantee Fund

[Asia Economy Reporter Hyungsoo Park] Ripack, an optical engine design company, announced on the 28th that it has been finally selected for the promising startup guarantee system called 'First Penguin.'

First Penguin by the Korea Credit Guarantee Fund is a system that supports startup companies challenging new fields with creative ideas and technological capabilities, like a brave penguin that first jumps into the sea from the group. It provides up to 3 billion KRW in guarantees and various non-financial benefits for three years to core companies with growth potential to become unicorn companies.

Ripack is a fabless company specializing in developing components (optical engines) for optical communication and optical sensors. It developed the world's first O-SIP (Optical System in Package) technology that implements electronic devices and optical devices in a single package at the wafer level. This technology is applied to optical engines for optical transceivers and optical engines for ToF (Time of Flight) sensors.

Selected as the lead organization for a national project by the Ministry of Trade, Industry and Energy, Ripack is developing ultra-thin ToF camera modules together with MCNEX and the Korea Photonics Technology Institute. It is targeting overseas markets by participating in ECOC, Europe's largest optical communication exhibition, and unveiling samples of ultra-high-speed optical engines at the 400Gbps level.

Dongwoo Park, CEO of Ripack, said, "Being selected as a First Penguin is significant in that our O-SIP technology and growth potential have been officially recognized," adding, "The funds raised will be used for new product research and development and various marketing activities in the future."