About 37 to 1 Competition Rate... Supporting Growth into Unicorn Companies
Up to KRW 20 Billion in Guarantees and Lowest Guarantee Fee Rate Applied for Three Years
On May 7, Korea Credit Guarantee Fund announced that it has selected five innovative startups with high potential to grow into unicorn companies.
The newly selected "Innovation Icons" are: Daim Research (an AI autonomous manufacturing solutions company focused on manufacturing and logistics), Markvision Korea (an all-in-one IP platform company for brand protection), VoyagerX (a company providing AI video editing and mobile scanner services), OneSemicon (a developer of high-speed signal transmission chips (RCD), which are core components of memory semiconductors), and Westworld (a content production company combining real-time VFX technology).
Korea Credit Guarantee Fund plans to provide these companies with up to KRW 20 billion in credit guarantees over three years, apply the lowest guarantee fee rate (0.5%), offer additional guarantee fee support (up to 0.4 percentage points) through partner banks, and assist with overseas expansion, consulting, and promotion.
The Innovation Icon program is a scale-up initiative that helps startups with new technologies or innovative business models grow into unicorn companies. A total of 63 companies have been selected through the 12th round, and they have received a combined KRW 804.7 billion in credit guarantee limits. As a result, 10 companies have been listed on KOSDAQ so far, and Bucketplace, which operates "Today's House," has grown into a unicorn company.
A representative from Korea Credit Guarantee Fund stated, "We plan to continue discovering promising startups that pioneer new markets and lead innovation based on technology and ideas. We will provide unwavering support to help them grow into unicorn companies with global competitiveness."
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