[Pangyo Tech] City sharing platform, newly registered on Korea Exchange KSM

USE (Urban Sharing Economy), an urban sharing platform that is developing Korean-style unmanned sales system IceGo, announced on the 7th that it was recommended by the Seongnam Industry Promotion Agency and was finally selected after passing the Korea Exchange screening.

The city sharing platform started in 2018 in Pangyo, Seongnam-si, Gyeonggi-do, to solve the phenomenon of urban emptiness on weekends. Local small business owners, startups, small and medium-sized businesses, public institutions, local governments, and local residents gathered together to start a Korean-style sharing economy model that utilizes idle space, and is currently using biometrics. We are creating a win-win collaboration model with small business owners through the AISS Go model, which uses a simple payment system that allows adult authentication.

While creating various types of profit models with small business owners in the field, in June 2020, the Korea Chamber of Commerce and Industry and the Ministry of Trade, Industry and Energy’s Industrial Convergence Regulation Special Deliberation Committee were established to prevent cases of being caught up in lawsuits or closing down due to business suspension due to the intentional purchase of alcohol by minors. was selected as a special company for regulation of operating unmanned liquor vending machines using artificial intelligence object recognition technology.

The city sharing platform was selected as a technology supplier for smart supermarkets, smart stores, and experiential smart markets, which are small business support programs of the Small Business Market Promotion Corporation of the Ministry of SMEs and Startups, in order to prioritize local supermarkets and small business owners rather than large corporations’ convenience stores in substantiating regulatory special provisions. We are participating in small business support projects.

In addition, in 2021, the Financial Services Commission was selected as one of the ‘National Representative 1000 Innovative Companies’, which discovers and supports 1,000 innovative companies with policy funds of 40 trillion won over three years, and is supported by Korea Development Bank, Growth Finance, Export-Import Bank, Korea Technology Credit Guarantee Fund, and Credit. It is receiving active administrative support from the Guarantee Fund and Industrial Bank of Korea.

Park Jin-seok, CEO of City Sharing Platform, said, “In 2020, we received a TCB TI-3 technology evaluation grade for investment from Nice Evaluation Information, and in 2021, we received a TCB TI-3 grade through Korea Enterprise Data and received technology evaluations from more than two professional evaluation agencies. “We meet the requirements for special listing, but we have not yet received any investment, so we started by registering with KSM, the Korea Exchange’s startup support platform, and applied for KSM registration to receive help with crowdfunding, institutional investment, and selection of a manager,” he said.

Seongnam Industry Promotion Agency President Ryu Hae-pil said, “As Seongnam Industry Promotion Agency was designated as the first local government to recommend KSM, the Korea Exchange startup market, we plan to actively discover and recommend innovative startups in Pangyo, Seongnam, and in the case of City Sharing Platform Co., Ltd. “We highly recommended this company as an innovative company that solves urban problems and improves convenience for citizens by applying the 4th Industrial Revolution technology,” he said. “We will continue to actively recommend excellent startups that can advance into the global market with such innovative technology so that they can grow in the domestic capital market.” “I will try my best to do so,” he said.

Meanwhile, KSM, short for Korea Exchange Startup Market (KRX Startup Market), is an over-the-counter stock trading platform opened in November 2016 to facilitate stock trading of promising startup companies. It was established to support the growth of small and medium-sized businesses and venture companies and to provide investment opportunities for companies with excellent technology.

KSM-registered companies can receive support such as △crowdfunding financing, △investment attraction review by the Korea Exchange Investment Advisory Committee, △customized education and consulting, and △special application for listing on KONEX.

Source:  Pangyo Techno Valley Official Newsroom

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