By Diplomacy Journal Lee Kap-soo

The Ministry of SMEs and Startups (MSS) with the Korea Venture Business Association hosted the 2025 Venture Billion Ceremony on 27 November, at EL Tower in Seoul.

”Venture Billion” refers to Korean venture companies that record annual revenues of at least KRW 100 billion (approximately USD 70 million).

The ceremony served as a signature event on the second day of Korea’s inaugural Venture Week (November 26 – December 2), bringing national recognition to companies that achieved and maintained annual revenues of KRW 100 billion as of the end of 2024.

Since the venture certification system was introduced in 1998, more than 136,000 firms have been designated as venture companies at least once. The event was designed to formally honor those that have risen to the forefront of Korea’s innovation economy.

Since its first publication in 2005, the Venture Billion designation has emerged as a leading benchmark for the sustained scale-up of Korea’s most dynamic venture firms. Many of Korea’s current global players – including NAVER, Kakao, NEXON, NCSfot, Celltrion, and Krafton – as well as unicorns such as Toss, Kurly, Bucketplace, Megazone, and Musinsa, have previously been recognized under this category.

This year, the number of Venture Billion firms reached 985, an 8.5 percent increase from the previous year and the highest total to date – placing Korea on the threshold of welcoming its 1,000th high-growth venture company. Among these, 28 firms now report annual revenues exceeding KRW 1 trillion.