The Korean Credit Guarantee Fund has selected four promising startups as "Innovation Icons" to support their growth.
According to the financial sector on November 7, the Credit Guarantee Fund has chosen four startups with innovative technologies and growth potential as part of its 16th Innovation Icon program.
The Innovation Icon program is a key initiative by the Credit Guarantee Fund aimed at helping startups with new technologies or innovative business models grow into unicorn companies.
The selected companies are: New Rise, a manufacturer of eco-friendly high-performance filters; Lafiq, a producer of high-functionality cosmetics; WeMeet Mobility, an AI-based logistics solutions provider; and EML, a specialist in advanced metal materials and special alloys.
The Credit Guarantee Fund will provide up to 20 billion won in credit guarantees over three years to the selected companies. A fixed guarantee fee rate of 0.5% will apply, along with additional support for guarantee fees through partner banks. The fund also plans to offer non-financial support, including assistance for overseas expansion, tailored consulting, and promotional activities.
Since the launch of the Innovation Icon program, the Credit Guarantee Fund has provided a total of 1.13 trillion won in credit guarantees to 79 companies across its first to fifteenth cohorts. Among the supported companies, 17 have been listed on the KOSDAQ market, and six, including Rebellion, Upstage, and DeepX, have grown into unicorns.
A Credit Guarantee Fund official stated, "Innovation Icon companies are establishing themselves as growth models within the startup ecosystem. We will continue to support promising startups in their journey to becoming unicorns and back the government's policies for fostering advanced strategic industries."
* This article has been translated by AI.
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