Jeju International Free City Development Center (JDC) announced that Future EV Co., Ltd., a company located in Jeju Innovation Growth Center Route 330, was finally selected for the '2025 Baby Unicorn Development Project' hosted by the Ministry of SMEs and Startups.
Future EV Co., Ltd. entered the Jeju Innovation Growth Center in 2024 and is a promising company in the future mobility field that manufactures eco-friendly light and compact electric trucks (F100) and parts based on technologies such as battery pack design, battery control management system (BMS), and motor control design.
Future EV is the fourth company in the JDC Innovation Growth Center to be selected for the Ministry of SMEs and Startups' unicorn company training project, following Baby Unicorn (Karang, Poen) and Future Unicorn (Nature Mobility).
The baby unicorn fostering project promoted by the Ministry of SMEs and Startups provides support in stages according to the 'Global Unicorn Project' so that selected companies with verified corporate value can grow into unicorn companies with global competitiveness. This year, a total of 217 companies applied and 50 companies were finally selected, recording a competition rate of approximately 4.3:1.
Selected companies will receive support from market development funds (up to 300 million won) and special guarantees from the Technology Guarantee Fund (up to 5 billion won). They will also receive support for overseas market entry (participation in global exhibitions, support for establishing overseas corporations, etc.) and various related support projects related to attracting follow-up investment (pre-listing diagnosis, investor matching, and network building, etc.).
Kim Kyung-soo, CEO of Future EV, said, “It is an even more valuable achievement because the evaluation and announcement preparation for selecting the baby unicorn was not easy,” and expressed his ambition, saying, “We aim to attract follow-up investment through active participation in IR in the future, and we also plan to proceed with an initial public offering (IPO).”
Koo Byung-wook, head of the JDC Industrial Promotion Headquarters, said, “JDC has supported the growth of companies in various ways, including prototype production, and I am glad that the selection of Future EV’s Baby Unicorn has borne fruit.” He added, “We will lead job creation and revitalization of the local economy by fostering technology startups within the Jeju Science and Technology Complex.”
- See more related articles
You must be logged in to post a comment.