GWANGJU < invest Korea

According to Yonhap News,

The growth of the "G-Unicorn" companies selected by Gwangju-si last year has been notable.

According to Gwangju-si on February 20th, the five G-Unicorn companies selected last year have achieved significant results, including 22 new hires, sales of KRW 6.31 billion, and 32 intellectual property rights applications and registrations.

Among these, ENITT , an AI company specializing in disaster safety and energy efficiency, has made significant strides in entering the North American market, with proposals from U.S. companies and plans for establishing a local branch. GhostPass, a biometric authentication technology company, won the CES 2025 Innovation Award.

Jan153 Biotech, a company developing eco-friendly microbial pesticides, has been selected by an international certification organization and the financial sector’s startup program. Cloudstone, a developer of autonomous delivery robots, is working on establishing a branch in India, and pampam, a second-hand luxury goods platform, has signed agreements with overseas companies.

Unicorn companies are startups with a company valuation of over USD 1 billion and within 10 years of establishment. Gwangju-si supports such promising startups through the G-Unicorn Nurturing Project, which selects companies with technological capabilities and growth potential, offering support for investment attraction and market expansion.

Last year, Gwangju-si selected five companies, including ENITT, GhostPass, Jan153 Biotech, Cloudstone, and pampam, providing up to KRW 300 million in commercialization support per company, assistance with participation in domestic and international exhibitions, and support for open innovation events with large corporations.

These companies shared their results and discussed ways to connect promising startups seeking investment with angel investors at a performance sharing event held at the Gwangju Bitgoeul Startup Station.

A city official stated, "We will actively discover promising early-stage startups and support them in securing commercialization funds, investors, and market access to help them grow into global unicorn companies."

areum@yna.co.kr

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Source: Yonhap News (February 20, 2025)