Korea Innovation Center Washington D.C., Parliament Ventures Fund Capital Launch First-of-Its-Kind IPO Program

South Korean government-affiliated startup accelerator pairs with industry leader PVF to form KIC Tech Beyond IPO Program for leading Korean Tech Firms

WASHINGTON - August 24, 2022 - (Newswire.com)

The Korea Innovation Center Washington D.C. (KIC DC) and Parliament Ventures Fund Capital (PVF) launched the first IPO program to prepare Korean tech firms to go public in U.S. markets. The Tech Beyond IPO Program will curate high-potential IPO firms, focusing on the best of class from Korea's tech market.

Jung Moon, Director General of KIC DC, stated, "Through this specially designed program, I hope the participating Korean companies can learn and understand the IPO process and requirements in detail so that they can review and validate the readiness of their business listing in the U.S. soon."

KIC DC Director Yong Kim added, "This program is a historical moment because, as far as I know, any accelerator in the U.S. has never tried IPO-related programs like this for startups, so this might be the first time. We hope the KIC Tech Beyond Program will be an excellent opportunity for our Korean Tech companies to become global players."

The program, launched at the end of June 2022, selected several pre-IPO firms with a market valuation between $600 million and $10 billion. The three-month program ends with a visit to New York City. There, PVF will connect participating companies to its extensive, curated U.S. network of investment banks, attorneys, and accounting firms in preparation to be a qualified, publicly traded firm. 

"Korea is a market leader in Asia, ranked #1 in technology by Bloomberg's Innovation Index, and the leading Asian country for IPO post performance," said Diane Yoo, PVF Founder. "In dealing with Asian clients, an IPO is more than a transaction, but a process that involves large amounts of preparation before filing to go public. My goal is to fast-track and bring more Korean IPO deals to the NYSE and NASDAQ Stock Market, a combined total market capitalization of $45 trillion."

The path to become a publicly traded company is an arduous process. PVF and KIC DC's Tech Beyond will help companies navigate hurdles, including providing specific documentation satisfying the stringent requirements of the SEC to legalize the transition from private to public. 

Marc Iyeki, a Tech Beyond program mentor and Senior Consultant to Global Markets Advisory Group (a pre-eminent capital markets consulting firm) said, "While Korea has long been a global leader in areas such as technology, manufacturing, and biotech, a new generation of vibrant, internationally-minded Korean startups has surfaced. Their need for growth capital might propel a good number of them to go public in Korea, the U.S., or both - an exciting prospect for global investors."

The KIC Tech Beyond Program curriculum includes interactive sessions with over 20 speakers from highly notable companies and Wall Street executives. PVF also curates 1:1 sessions for Korea's leading tech firms with U.S. networks in preparation for IPO.

Hye In Kim

hkim@kicdc.org




Press Release Service by Newswire.com

Original Source: Korea Innovation Center Washington D.C., Parliament Ventures Fund Capital Launch First-of-Its-Kind IPO Program
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.