Korea Innovation Heart Washington D.C., Parliament


WASHINGTON, Aug. 24, 2022 (GLOBE NEWSWIRE) — The Korea Innovation Heart Washington D.C. (KIC DC) and Parliament Ventures Fund Capital (PVF) launched the primary IPO program to organize Korean tech companies to go public in U.S. markets. The Tech Past IPO Program will curate high-potential IPO companies, specializing in the most effective of sophistication from Korea’s tech market.

Jung Moon, Director Normal of KIC DC, acknowledged, “By means of this specifically designed program, I hope the taking part Korean corporations can be taught and perceive the IPO course of and necessities intimately in order that they’ll evaluation and validate the readiness of their enterprise itemizing within the U.S. quickly.”

KIC DC Director Yong Kim added, “This program is a historic second as a result of, so far as I do know, any accelerator within the U.S. has by no means tried IPO-related applications like this for startups, so this could be the primary time. We hope the KIC Tech Past Program might be a superb alternative for our Korean Tech corporations to turn out to be international gamers.”

This system, launched on the finish of June 2022, chosen a number of pre-IPO companies with a market valuation between $600 million and $10 billion. The three-month program ends with a go to to New York Metropolis. There, PVF will join taking part corporations to its intensive, curated U.S. community of funding banks, attorneys, and accounting companies in preparation to be a certified, publicly traded agency. 

“Korea is a market chief in Asia, ranked #1 in know-how by Bloomberg’s Innovation Index, and the main Asian nation for IPO put up efficiency,” mentioned Diane Yoo, PVF Founder. “In coping with Asian purchasers, an IPO is greater than a transaction, however a course of that includes massive quantities of preparation earlier than submitting to go public. My objective is to fast-track and produce extra Korean IPO offers to the NYSE and NASDAQ Inventory Market, a mixed whole market capitalization of $45 trillion.”

The trail to turn out to be a publicly traded firm is an arduous course of. PVF and KIC DC’s Tech Past will assist corporations navigate hurdles, together with offering particular documentation satisfying the stringent necessities of the SEC to legalize the transition from personal to public. 

Marc Iyeki, a Tech Past program mentor and Senior Advisor to World Markets Advisory Group (a pre-eminent capital markets consulting agency) mentioned, “Whereas Korea has lengthy been a worldwide chief in areas comparable to know-how, manufacturing, and biotech, a brand new era of vibrant, internationally-minded Korean startups has surfaced. Their want for progress capital may propel variety of them to go public in Korea, the U.S., or each – an thrilling prospect for international buyers.”

The KIC Tech Past Program curriculum consists of interactive periods with over 20 audio system from extremely notable corporations and Wall Road executives. PVF additionally curates 1:1 periods for Korea’s main tech companies with U.S. networks in preparation for IPO.

Hye In Kim

hkim@kicdc.org

This content material was issued by way of the press launch distribution service at Newswire.com.



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