Gyeongnam Yangsan Giant Chemical Selected as 'Baby Unicorn' by the Ministry of SMEs and Startups

Screenshot of Giant Chemical homepage.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongnam Province announced on the 29th that the magnesium silicate manufacturing company 'Giant Chemical' has been selected as a Baby Unicorn.

The 'Baby Unicorn 200 Nurturing Project' is one of the K-Unicorn projects implemented by the Ministry of SMEs and Startups. Companies finally selected can receive linked support of up to 15.9 billion KRW, including 300 million KRW in market pioneering funds.

A total of 254 companies nationwide applied, and through eligibility review, first technical evaluation, second document evaluation, and final presentation evaluation, 40 companies were selected with a competition rate of 6.3 to 1. Giant Chemical is the only company from Gyeongnam.

Giant Chemical, established in 2015, is a magnesium silicate production company headquartered in Yangsan, Gyeongnam. It is a promising SME with outstanding technological competitiveness, holding patents for manufacturing magnesium silicate adsorbents and a patented magnesium silicate production process that requires no filtration process. From 2018 to May 2020, it completed a total investment attraction of 10.4 billion KRW and is striving to leap forward as a global silicate specialized company.

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