TFJ Global Selected as Next-Generation 'Innovation Icon Company' by Korea Credit Guarantee Fund

Up to 15 Billion KRW Credit Guarantee Over 3 Years, Lowest Guarantee Fee Rate, Additional Interest Rate Reduction Benefits from 6 Partner Banks

Jin Eui-gyu, CEO of TFJ Global. [Photo by TFJ Global]

[Asia Economy Reporter Kim Jong-hwa] TFJ Global, a startup specializing in eco-friendly water-repellent processing materials and carbon flame-retardant materials, recently announced on the 6th that it has been selected as the '6th Innovation Icon' by the Korea Credit Guarantee Fund.

The Korea Credit Guarantee Fund's 'Innovation Icon Support Program' is a flagship scale-up program designed to support innovative companies with new business models to rapidly grow into future unicorn companies.

Jin Eui-gyu, CEO of TFJ Global, stated, "We were recognized by the Korea Credit Guarantee Fund for our future growth potential, innovation in business models, differentiation from existing technologies, ESG management level, and potential for global innovative company growth, leading to our selection as an Innovation Icon."

A total of 172 companies applied for the 6th Innovation Icon open recruitment, showing a competition rate of 34.4:1. After three rounds of evaluation, companies were selected based on future growth potential, business model innovation, differentiation from existing technologies, and ESG management level rather than past financial statement performance.

The final selected companies will receive ▲up to KRW 15 billion in credit guarantees over three years, which is 2.5 times more than the KRW 7 billion provided to existing unicorn companies. Additionally, ▲a minimum guarantee fee rate of 0.5% ▲an additional 0.7%p interest rate reduction supported through six partner banks ▲and various non-financial services such as overseas expansion support, consulting, and promotional activities will be provided.

Founded in 2015, TFJ Global is a technology-intensive material startup that commercialized the world's first non-fluorine (CO) water-repellent processing technology called 'BLUELOGY,' using natural substances harmless to the human body.

TFJ Global is the only company with the technology to apply water-repellent processing not only to synthetic fibers but also to natural fibers, securing technological competitiveness over global leading companies such as DuPont and TORAY. Furthermore, it has been recognized for its technology by obtaining the Oeko-tex standard 100 Class 1 Annex 6 certification from a Swiss accredited certification body.

In particular, the carbon flame-retardant fiber (brand 'Materium') developed and currently being mass-produced by TFJ Global offers higher flame retardancy and excellent price competitiveness compared to representative flame-retardant fibers such as Aramid and Kevlar. Therefore, it can be applied not only to textiles but also to various industrial fields such as construction materials, firefighting, ESS, electric vehicles, and ships.

CEO Jin said, "We will actively expand overseas markets, which had slowed due to COVID-19, through global exhibitions such as Tokyo Fashion World in April and Munich ISPO 2022 in November. We plan to invest 90% of the raised funds in factory construction and eco-friendly facilities free of harmful substances, and once the carbon flame-retardant fiber factory facilities are completed, we will immediately proceed with mass production."

TFJ Global has signed contracts with Toyoshima & Co., Ltd., a leading Japanese textile and apparel export trading company, for global market sales rights and joint brand launching in Japan for BLUELOGY, as well as sales rights for carbon flame-retardant fibers. The company has also successfully attracted large-scale investments totaling KRW 21.5 billion domestically and internationally.

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