Hong Nam-ki “Coupang, a feat of unicorn companies… strengthening support for venture overseas expansion”

Input 2021.02.14 21:49

Hong Nam-ki, Deputy Prime Minister of Economy and Minister of Strategy and Finance, expressed his welcoming welcome to Coupang’s promotion of listing on the New York Stock Exchange, saying, “It is a feat of Korean unicorn companies.

On the 14th, Deputy Prime Minister Hong wrote on his Facebook page that “the growth potential of Korea’s unicorn company and non-face-to-face industry is internationally recognized,” referring to foreign media reviews related to Coupang’s listing plan.

Earlier, Coupang announced on the 12th (local time) that “the US Securities and Exchange Commission (SEC) submitted a declaration for listing Class A common stock.” It has been 7 years since it was designated as the No. 1 unicorn in Korea in May 2014 (corporate value of over 1 trillion won).

Deputy Prime Minister Hong said, “I will once again reflect on the importance of activating venture investment,” and said, “As the importance of innovation in the post-corona era is being emphasized more than ever, the government will do its best to strengthen the venture and startup ecosystem.”

“There are numerous companies with global competitiveness in Korea,” he said. “If you turn your view beyond the domestic market to the global market, endless opportunities can be opened.”

He added, “Especially after the coronavirus, the expansion of the non-face-to-face industry will break down the barriers of the border,” he added. “We will continue to strengthen support for expanding overseas expansion of competitive small and medium-sized venture companies as well as large companies.”