Five Organizations Join Forces to Support Startup Companies Entering the Public Market

2022 Five Organizations Sign MOU to Promote Public Market Entry of Startup Products

On the 17th, participants are taking a commemorative photo at the business agreement ceremony for the 'Activation of the Public Institution Priority Purchase System for Startup Company Products.'

[Asia Economy Reporter Kim Cheol-hyun] Korea Industrial Complex Corporation (Chairman Kim Jeong-hwan) announced on the 17th that it has signed a business agreement with the Korea Institute of Startup & Entrepreneurship Development (President Kim Yong-moon), Korea Technology Finance Corporation (Chairman Kim Jong-ho), Small Enterprise and Market Service (Chairman Jo Bong-hwan), and Korea SMEs and Startups Agency (Chairman Kim Hak-do) to promote the entry of startup companies into the public market.

The 'Priority Purchase System for Startup Company Products by Public Institutions' is a system implemented last year that mandates public institutions to purchase approximately 12 trillion won worth of products from startup companies facing difficulties in securing sales channels.

Through this business agreement, the five public institutions for win-win cooperation agreed to jointly promote ▲ efforts to purchase startup company products within the region ▲ discovery of best practices and joint promotion ▲ sharing of excellent company pools.

Kim Jeong-hwan, Chairman of Korea Industrial Complex Corporation, said, "As the economic situation is becoming severe recently, the growth of startup companies equipped with innovative technologies is more important than ever," adding, "We will expand the foundation and support measures for promising regional startup companies to sustain their growth."

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