S. Korea aims to cultivate 50 unicorn companies by 2030

The Ministry of SMEs and Startups announced its vision to nurture 50 unicorn companies — startups valued at 1 trillion won ($726 million) or more — by 2030.

The ministry unveiled the plan Tuesday morning at a "Global Unicorn Vision Declaration" ceremony at SVC Seoul in Mapo-gu, Seoul.

"Attracting global investment is essential for startups and venture companies to grow into unicorns," First Vice Minister Noh Yong-seok said at the ceremony. "We will actively support potential unicorns so they can compete and leap forward in global markets as we work toward cultivating 50 global unicorns by 2030."

The government's push to develop unicorns stems from its drive to secure growth momentum for the venture ecosystem. Unicorn companies are widely regarded as a key engine for creating quality jobs, energizing private investment and spurring follow-on entrepreneurship. Through its Unicorn Bridge program, the ministry plans to provide intensive support for attracting global investment and expanding overseas. Its long-term goal is to grow the number of companies in the "1 trillion won club" competing in global markets and build a virtuous cycle within South Korea's venture ecosystem.

The Unicorn Bridge program, newly established this year, is designed to identify potential unicorns that have demonstrated innovation and growth potential and develop them into globally competitive unicorn companies. Selected firms will receive up to 1.6 billion won in government grants over two years, along with special guarantees of up to 20 billion won from the Korea Technology Finance Corporation.

Beyond financial support, the ministry will also connect selected companies with global investors. It plans to run overseas investor relations programs, including global roadshows, to help chosen firms secure international investment opportunities.

Tuesday's event opened with the vision declaration, followed by a lecture on attracting investment for unicorn growth, a certificate presentation ceremony for the 50 companies selected under the Unicorn Bridge program, and presentations by the selected small and medium-sized enterprises on their plans to achieve unicorn status.

Key details about the 50 selected companies were also disclosed. The cohort spans AI and software, biotech and healthcare, and deep tech sectors including autonomous driving, robotics and semiconductors. The selection reflects the ministry's focus on identifying high-growth companies with strong technological competitiveness and developing them into global unicorns.

According to the ministry, the selected companies have attracted an average of 38.4 billion won in private investment, giving them an average valuation of approximately 180.1 billion won. Their average annual sales stand at 24 billion won, and they employ an average of 106 people.