Shinbo, Recruiting 'Innovation Icon' Companies with 15 Billion KRW Minimum Guarantee Fee

[Asia Economy Reporter Song Seung-seop] The Korea Credit Guarantee Fund announced on the 17th that it will recruit target companies for the 5th batch of the startup growth program 'Innovation Icon' until the 11th of next month.

The Innovation Icon support program is a project that discovers and supports startups that have the potential to grow into next-generation unicorn companies based on new technologies or innovative business models.

Eligible companies are those operating in new industries for 2 to 10 years or less, with annual sales of 500 million KRW or more, and an average sales growth rate of 10% or higher over two years, or companies that have attracted investments ranging from 2 billion to 50 billion KRW from institutions.

Selected companies will receive credit guarantees of up to 15 billion KRW over three years. They will benefit from the lowest guarantee fee rate (0.5%) and an additional interest rate reduction of 0.7 percentage points through six partner banks. Non-financial services such as overseas expansion support, consulting, and publicity assistance will also be provided.

Since 2019, the Korea Credit Guarantee Fund has selected 22 Innovation Icons over four rounds, providing a total credit guarantee limit of 191 billion KRW and 13 non-financial services.

A representative from the Korea Credit Guarantee Fund stated, "We will spare no support to ensure that the 5th batch of Innovation Icons can also advance as market-leading companies."

This content was produced with the assistance of AI translation services.