The Ministry of Small and Medium Enterprises and Startups, along with the Korea Small Business Corporation, has announced the recruitment period for participant companies in the 2027 Jump-Up Program, which will run until November 13.
The Jump-Up Program is designed to support small and medium enterprises with significant growth potential, aiding their transformation into mid-sized firms through comprehensive assistance, including strategic planning, commercialization, investment attraction, and global expansion.
A total of 220 companies will be selected across three categories: 'Jump-Up 100' for firms with over 10 billion KRW in revenue, 'Jump-Up 500' for those generating over 50 billion KRW, and 'Jump-Up 1000' for companies exceeding 100 billion KRW. Eligible firms must have a minimum operational history of seven years and must have achieved the relevant revenue thresholds at least once in the past three years.
The Jump-Up 100 initiative focuses on enhancing management capabilities and business competitiveness. Selected companies will receive guidance on establishing management systems and resolving technical issues on-site, along with an annual Open Voucher of 200 million KRW for three years.
Jump-Up 500 aims to promote business growth by facilitating entries into new markets and ventures. It provides strategic advice on business model expansions and new market entries, supported by an annual Open Voucher of 280 million KRW for three years.
Jump-Up 1000 concentrates on advancing global market entry and growth strategies. Utilizing the expertise of global consultancy firms, it assesses growth limitations and supports the full process of establishing joint ventures, mergers and acquisitions, and public offerings, with an annual Open Voucher of 750 million KRW offered over two years.
Furthermore, enhanced support will be provided to regional enterprises. Non-capital region companies will receive Open Vouchers at 1.1 to 1.3 times higher than their capital region counterparts, thereby bolstering the growth of promising local companies and bridging regional disparities in growth.
The program will implement a performance-based management system, evaluating the operational achievements of participating companies annually. High-performing firms will receive incentives, while those with subpar performance may face support reductions or discontinuations.
Through this initiative, the Korea Small Business Corporation aims to strengthen support across each stage of business growth, with a goal of nurturing 1,500 representative Jump-Up companies by 2030.
Companies interested in participating can apply through the integrated information management system at www.jumpup.or.kr. Applications are limited to one program per company, with no duplicate applications allowed.
The Director of the Korea Small Business Corporation emphasized the differing challenges faced by companies with revenues of 10 billion KRW versus those with 100 billion KRW, stating that tailored support will be crucial in assisting small businesses in their growth towards mid-sized status.
