UMAG (CEO Seol Hyun-jin), a global content distribution and music IP business company, announced that it has been selected for the Korea Credit Guarantee Fund's 'Pre-ICON' training program.
Freeicon is a scale-up program run by the Korea Credit Guarantee Fund (KCGF) that provides guarantees of up to 7 billion won to startups with high growth potential, established two to ten years ago. Target companies are selected through a comprehensive evaluation of their value based on various indicators, including innovation, growth potential, and technological prowess. In addition to guarantees, the program also provides non-financial services, including export information, market development, and promotional support.
UMAG plans to leverage the financial resources secured through this Free Icon selection to actively pursue key strategies, including expanding its music distribution business, strengthening its content marketing capabilities, and entering the Southeast Asian market. In particular, the company plans to focus on accelerating growth over the next three years, aiming to become a global music IP business company.
Founded in 2017, UMAG has solidified its position in the domestic and international music content markets by securing content distribution capabilities based on Google's YouTube Content ID license. In 2022, the company secured a Series A funding round totaling 5.1 billion won, demonstrating the scalability and sustainability of its content-based IP business.
Currently, UMAGE is growing into a strategic hub for the domestic and international music industries, focusing on global music distribution, content marketing, and K-content linkage as its core businesses, and is strengthening its position as a content export company that drives the overseas expansion of domestic IP.
UMAG CEO Seol Hyun-jin said, “This selection as a free icon is a meaningful result of UMAG’s competitiveness and sustainable growth potential being recognized by a public institution,” and added, “We will create a differentiated business model for UMAG in the global market by combining technology and distribution in a way that can maximize the value of content.”
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