- Venture Company Standard
Venture Company Standard Classification Standards Comments Common Standards Small and medium businesses as defined in the Basic Law on Small and Medium Enterprises Venture Finance Investment Businesses Businesses for which the investment period is no less than 6 months and total stock acquisitions for the following entities exceeds 10% of equity: small and medium business investment companies, investment associations for small and medium businesses, new technology enterprise financiers, investment associations for new technology enterprises, and the Korea Venture Fund, etc. Research & Development Businesses Businesses for which research & development costs are greater than KRW50 million and exceed 5% of total sales Using the preceding business year’s costs as a standard New Technology Businesses Business that are commercializing through patent rights, etc. and have received first rate valuations for technology and business capabilities from the Small Business Corporation, etc.
- Confirmation Process for Venture Businesses
Confirmation Process for Venture Businesses Order Contents Supervisor Target Comments 1 Request for the issuing of the venture business certification Applicable companies Certification issuing institution 2 Issuing the venture business certification Certification issuing institution Applicable companies Within 3~15 days after the request date 3 Request for the issuing of the venture business confirmation statement Applicable companies District Small and Medium Business Administration 4 Issuing of the venture business confirmation statement District Small and Medium Business Administration Applicable companies Within 15 days after the request date