Shinbo Produces First 'KOSDAQ Company' Through Startup Incubation Program

Since 2019, the Korea Credit Guarantee Fund has been operating the startup development project 'Innovation Icon Support Program.'
[Photo by Korea Credit Guarantee Fund]

[Asia Economy Reporter Song Seung-seop] The Korea Credit Guarantee Fund announced on the 25th that the first company participating in the ‘Innovation Icon Support Program,’ which helps nurture startups, will be listed on the KOSDAQ on the 26th.

The Innovation Icon Support Program is a project that provides guarantees of up to 15 billion KRW over three years to promising startups. Non-financial services such as consulting and market access support are also provided. It started in 2019 and is currently selecting companies for the 5th cohort.

The company going public this time is VUNO, a healthcare company that participated in the 2nd Innovation Icon Program, receiving a guarantee limit of about 7 billion KRW from the Korea Credit Guarantee Fund. The Fund explained that since being selected as an Innovation Icon, VUNO’s cumulative investment amount increased by 32% to 20 billion KRW, and its sales and number of employees grew eightfold and 1.5 times, respectively.

A representative from the Fund said, “We feel a special sentiment as the first company to be listed on KOSDAQ has emerged,” adding, “We will continue to spare no support so that excellent startups can achieve results.”

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