중소벤처기업 벤처확인시스템 중소벤처기업 벤처확인시스템 벤처확인종합관리시스템
1-1 About Us

Chairman’s Message

The private-led
Venture Certification system seeks
to identify true innovative ventures.
Fostering the Growth of Innovative Ventures to Emerge as Global Leaders

Greetings, I am Song Byung-joon, Chairman of the Korea Venture Business Association and Chairman of the Organization for Venture Enterprise Certification.

Established in February 2021, the Venture Enterprise Certification has diligently worked to unveil venture companies endowed with high innovation and growth potential, grounded in the pioneering spirit of challenge and exploration.

As a result of our efforts, we have witnessed a significant increase in venture investments and R&D enterprises, particularly within the realm of innovative new industries, alongside a growing representation of youth and women. The venture certification system now serves a pivotal role in enhancing the structural integrity of the entire venture ecosystem.

Looking ahead, the Venture Enterprise Certification is committed to upholding the highest standards of credibility for venture enterprises through the equitable and professional management of the certification process, from application to validation, leveraging the robust framework we have established thus far.

Furthermore, we shall diligently carry out our role as a supporter to ensure that venture enterprises possessing exceptional technological prowess utilize the venture certification system as a catalyst for advancement, thereby securing their position as key players in the global marketplace.

Thank you.

Chairman of the Organization
for Venture Enterprise Certification SONG BYUNG-JOON
1-2 About Us

Venture Enterprise
Certification

What is a "venture enterprise" in Korea?
The term "venture enterprise" generally refers to small and medium-sized enterprises(SEMs) that develop innovative technologies and concepts for commercialization. In Korea, companies meeting specific criteria outlined in the "Special Act on the Promotion of Venture Businesses" are recognized as venture enterprises.
Purpose of the Venture Enterprise Certification
  • The Venture Business Certification is a government-led initiative designed to discover and support technology-driven companies with high growth potential that meet the requirements specified in the "Special Act on the Promotion of Venture Businesses."
    Relevant department
    Ministry of SMEs and Startups
  • The Venture Enterprise Certification aims to reform Korea's economy from once centered around large corporations into an ecosystem that supports SMEs in transiting into venture enterprises and promotes venture startups. Launched in 1998, the initiative seeks to enhance the competitiveness of Korea's industrial sector.
  • The system was restructured on February 12, 2021, to place greater emphasis on innovation and growth, following legislative amendments made in the intervening years.
1-3 About Us

History

  • 2021
    Jan
    Office of the Organization for Venture Enterprise Certification opened in Seoul
    Feb
    Venture Enterprise Management System website launched
  • 2022
    Dec
    Twelve entities designated as assessment institutions for Venture Enterprise Certification
  • 2023
    Feb
    Sung Sang-yeop appointed Chairman of the Organiztion for Venture Enterprise Certification
    Jun
    Re-designated as the Organization for Venture Enterprise Cerification
  • 2024
    Jan
    Second Venture Enterprise Certification Committee established
1-4 About Us

Our Team

Secretariat of the Organization for Venture Enterprise Cerification
Handless all processes, from application to certification.
Assessment Institutions
conduct the first evaluators of applicant companies through on-site inspections,
assessing technological innovation and business growth potential. Specialized evaluation from 12 assessment institutions visit and assess applicant companies.
Venture Enterprise Certification committee
Deliberates and makes final decisions on Venture Enterprise Certification applications,
as well as the revocation of issued certifications. Composed of members from various sectors, including business, government, academia, research, and certification.
2-1 Venture Archievements

Archievements As of 2023

Since its launch in 1998 through 2023,
the Venture Enterprise Certification has been granted to over 40,000 venture enterprises.
Certified Venture Enterprises by Year
Venture Enterprises by Industry
  • Manufacturing
    23,264
    58.0%
  • Information processing software
    8,676
    21.6%
  • R&D services
    1,508
    3.8%
  • Wholesale and retail
    1,559
    3.9%
  • Construction and transportation
    876
    2.2%
  • Agriculture, fishing, forestry, and mining
    179
    0.4%
  • Other
    4,019
    10.0%
Venture Enterprises by Type
  • Innovative growth
    25,953
    64.8%
  • R&D
    6,931
    17.3%
  • Venture investment
    6,930
    17.3%
  • Pre-venture
    267
    0.7%
2-2 Venture Archievements

Venture enterprises are
the backbone of
the Korean economy.

Status of Venture Enterprises in Korea As of 2023
  • Venture companies
    There are a total of 908 venture enterprises with annual revenue exceeding KRW 100 billion
  • Unicorn companies
    Among the 22 unicorn companies with a valuation of over USD 1 billion, 19 are venture enterprises.(as of 2022)
  • KOSDAQ-listed companies
    Of the 1,661 KOSDAQ-listed companies, 1,222 are venture enterprises.
Comparison with Other Business Groups
  • No. of employees
    [Top 4 conglomerates]
    Samsung, Hyundai, LG, SK     [Top 4 conglomerates] Samsung, Hyundai, LG, SK. Top4 746,000, Venture enterprises 935,000
  • Average ratio of R&D to revenue
    • 1.8%
      Large
      enterprises
    • 1.1%
      Mid-sized
      enterprises
    • 0.8%
      Small and
      medium-sized
      enterprises
    • 4.6%
      Venture
      enterprises
  • Revenue
3-1 Qualification and Process

Requirements

SMEs that meet the following requirements can apply
for the Venture Enterprise Certification
Requirements by Certification Type
Type Requirements
Venture
investment
  • Total investment of KRW 50 million or more
  • Investment-to-capital ratio of 10% or greater
R&D
  • In-house research institute or similar facillities
  • Total R&D spending of KRW 50 million or more in the last four quarters, with R&D expenses accounting for 5% or more of total revenue
Innovative
and growth
  • Recognition of significant potential for technology innovation and business growth
Pre-venture
3-2 Qualification and Process

Certification Process

The Venture Enterprise Certification involves a strict assessment procedure to select outstanding SMEs as certified venture enterprises.
  • Application
  • Acceptance
    and payment
  • Assessment
  • Deliberation
  • Certification
The entire process is conducted online through the Venture Enterprise Management System website. https://www.smes.go.kr/venturein/home/viewHome
4-1 Supporting Venture

Government Support

Certified venture enterprises receive a wide range of benefits from the Korean government.
Major Benefits
Classification Benefits
Taxes
  • Up to 50% reduction in income tax and corporate tax for venture enterprises less than 3 years old
Finance
  • Expanded venture enterprise guarantee limits; preferential treatment for KOSDAQ listing reviews
Startups
  • Education and public employees can take a leave absence or hold concurrent positions as representatives or executives of venture enterprises.
Location
  • Up to 50% reduction in acquisition tax and 35% in property tax for venture enterprises located in a Venture Development and Promotion Zone
Patents
  • Venture enterprises given priority in patent examinations
Workforce
  • Expanded stock option allocation limits and tax benefits
Marketing
  • Television and radio advertising subsidies
5-1 Contact Us

Contact

  • Address 10F, 309, Teheran-ro, Gangnam-gu, Seoul, Korea
  • E-mail lu77up@venturein.or.kr