The ‘Gyeonggi Fair M&A Support Center’ has opened to help startups in Gyeonggi-do with fair M&A (corporate mergers and acquisitions) and successful exit (EXIT).
The ‘Gyeonggi Fair M&A Support Center’, which held an opening ceremony at the Pangyo Startup Campus on the afternoon of the 13th, is a virtuous cycle in the startup ecosystem by helping startups recover their investment through M&As conducted in a fair environment and grow further through re-startups and reinvestments. This is a project introduced in the 7th popular election for this purpose.
At the center, experts in each M&A field are stationed to provide regular consultation and advice. In addition to supporting feasibility studies and legal/accounting advice and consulting for companies wishing to sell or purchase, it also provides training, workshops, networking, and matching days. A variety of services will be provided.
First, this year, we will provide expert consulting for up to 600,000 won per company for 40 companies, and support for corporate value assessment and adequacy verification of contracts for up to 30 million won for 10 companies.
To this end, prior to the opening ceremony, we plan to sign agreements on mergers and acquisitions (M&A) with six brokerage and advisory organizations and provide various M&A-related support to startups through connections with market experts such as law and accounting firms. .
Although M&A, which refers to mergers and acquisitions between companies, financial joint venture relationships, and strategic alliances, plays a positive role in strengthening corporate competitiveness, Korea is compared to developed countries due to a negative corporate culture toward M&A and structurally weak M&A market conditions. It is not activated.
In particular, relatively weak startups often experienced difficulties in execution due to concerns about technology theft, unfair contracts, information asymmetry, and undervaluation of corporate value.
As many global companies are expected to strengthen their competitiveness through active M&A in preparation for the post-corona era, the province also plans to promote various startup M&A activation policies centered on the ‘Gyeonggi Fair M&A Support Center’.
At the opening ceremony, about 10 officials, including Gyeonggi-do Vice Governor Lee Han-gyu, Gyeonggi Provincial Assemblyman Choi Se-myeong, Gyeonggi Province Economic and Science Promotion Agency Director Yoo Seung-kyung, Gyeonggi Venture Business Association President Seo Man-man, and representatives of brokerage and advisory organizations, participated.
Deputy Governor Lee Han-gyu said, “We will discover and distribute M&A models suitable for startups at each stage of growth to improve the negative corporate culture regarding M&A.” He added, “With the Gyeonggi Fair M&A Support Center at the center, an opportunity will be created to revitalize the fair startup M&A market.” “I hope it will happen,” he said.
Meanwhile, startups in the province wishing to provide M&A services can visit the Gyeonggi Fair M&A Support Center in person or consult over the phone.
Source: Pangyo Techno Valley Official Newsroom
→ Go to ‘Asia Innovation Hub Pangyo Techno V