The Ministry of SMEs and Startups said on the 22nd it selected 100 small and medium-sized corporations to join the second Jump-Up program. It will support the entry of corporations with seven or more years in business into new lines for three years to help them grow into mid-sized corporations.
A total of 531 applied to this call for applications. The Ministry of SMEs and Startups (MSS) selected 100 corporations after evaluating growth potential, profitability, and innovativeness. The selected corporations have an average operating history of 22.3 years. In 2024, their average sales were 46.6 billion won, and average employment was 126 people.
Participating corporations can receive consulting on strategies for entering new businesses, as well as management and technology advice. They receive vouchers of up to 750 million won that can be used for various tests and certifications and marketing. They can also receive support for attracting investment and expanding overseas. Linkages are available with policy institutions for loan and guarantees, policy funds, and export finance.
The Ministry of SMEs and Startups (MSS) is also considering offering additional incentives to corporations with strong results. Minister Han Seong-sook of the Ministry of SMEs and Startups (MSS) said, "The leap of small and medium-sized corporations into mid-sized and large corporations is key to restoring dynamism," adding, "We will support the growth of small and medium-sized corporations."