The business agreement is to establish the first public-private cooperative network to foster “green star companies” which can be listed on the KONEX (Korea New Exchange), a new stock market established in 2013 for start-up firms and small businesses, to create jobs and bring about green growth of the city. (image: Kobizmedia/ Korea Bizwire)
SEOUL, May 31 (Korea Bizwire) – The Seoul city government and the Seoul Business Agency have signed a multilateral business partnership agreement with communication and energy sector enterprises and the financial service providers on May 28.
The business agreement is to establish the first public-private cooperative network to foster “green star companies” which can be listed on the KONEX (Korea New Exchange), a new stock market established in 2013 for start-up firms and small businesses, to create jobs and bring about green growth of the city.
At the signing ceremony, head of the Seoul Business Agency, director of SK Telecom’s corporate business department, vice president of POSCO Energy, president of Idea Bridge, an asset management firm, and president of HMC Investment & Securities.
Under the terms of the agreement, each organization or corporation will do its best to carry out various support programs which include sharing the technical know-how and forming partnerships, providing advice on being listed on the KONEX, investing in intellectual properties and equities, and offering intellectual property consulting.
The Seoul Business Agency is in charge of the program for fostering small-sized companies in compliance with the Seoul city government’s energy policy to reduce the number of nuclear power plants which has been one of the major motivations behind the public-private cooperative network. An evangelist (professional consulting firm) will be appointed to handle the management of supported businesses.
The prospect beneficiaries of the business support program are small to medium sized “green” companies in Seoul with an annual turnover greater than 2 billion won which carry on a green business related to energy saving by means of ICT technologies like renewable energy or IoT (Internet of Things).
Two companies will be chosen for the support program, and each will get an annual cash support of 100 million won for three years and other funding to catalyze the growth.
Written by Robin Koo (linguistkoo@koreabizwire.com)
Policies (Follow us @Policynews_Korea)
