Jungjingong Supports Promising SMEs, Accumulating 1.7 Trillion KRW in Private Follow-up Investments
Growth-Sharing Loans Supported Since 2008
Cumulative Support of 812.6 Billion KRW to 976 Companies
The Small and Medium Business Corporation (Chairman Kang Seok-jin, hereinafter referred to as SBC) announced on the 20th that the cumulative amount of private follow-up investments attracted by companies supported by growth-sharing loans since 2008 has reached 1.7233 trillion KRW.
SBC’s growth-sharing loans identify promising companies with technological capabilities and growth potential, providing funds in the form of convertible bonds (CB) and redeemable convertible preferred stocks (RCPS) to companies with a high possibility of initial public offering (IPO). From 2008 to October of this year, SBC has supported a total of 976 companies with 812.6 billion KRW in growth-sharing loans.
In particular, to respond to the sluggish investment market caused by economic recession due to high interest rates, high inflation, and international instability, SBC expanded its investment budget from 60 billion KRW to 90 billion KRW this year. Additionally, it promoted the expansion of seed investment support for startup companies through focused support in future strategic industries and collaboration with national research institutes. It also promoted the 'KOSME IR Mart,' a themed corporate investment briefing session aimed at enhancing the follow-up investment attraction performance of supported companies.
This year, among the companies supported by growth-sharing loans, three companies including Secusen were listed on the KOSDAQ market, attracting 265 billion KRW in private follow-up investments, an 11% increase compared to last year. Furthermore, by focusing on innovation growth, super-gap, and new industry sectors, which are core to future strategic industries, it achieved results accounting for 68% of the follow-up investment amount in 2023.
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Chairman Kang Seok-jin stated, "SBC proactively provides funds to promising technology startups, playing a role as a catalyst for private follow-up investments that lead to the IPO of supported companies every year." He added, "We will continue to actively support the innovative growth and enhancement of corporate value of growth-sharing supported companies by regularly holding themed corporate investment briefing sessions and supporting future strategic industries to secure new growth engines."
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