KingoSpring Invests in Ulsan Startup MTG, Accelerates Establishment of Yeongnam Hub

KINGO SPRING, an early-stage startup investment firm, has made an investment in a Ulsan-based startup, signaling an expansion of its investment activities in the Yeongnam region.

KINGO SPRING announced that on March 24, it signed a memorandum of understanding (MOU) for investment with Ulsan-based startup MTG Co., Ltd. at the Ulsan Jongha Innovation Center.

This investment is seen as an example of expanding private investment in promising local companies beyond the Seoul metropolitan area, and is expected to send a positive signal to the Ulsan startup ecosystem.

MTG Co., Ltd. is a company specializing in materials and adhesive solutions, currently developing its business based on high-performance chemical materials required in shipbuilding and industrial sites. The company has developed 'COATWEL SEAL 211,' a one-component adhesive sealant that can replace welding, and 'COATWEL SEAL 311,' a structural adhesive sealant, applying these products to various industries such as shipbuilding, plant construction, railroads, and aviation.

With this investment, KINGO SPRING plans to establish a Yeongnam Hub in Ulsan and, based on this hub, to further expand the discovery of promising companies in the Yeongnam region and connect them to investment opportunities. In particular, the company aims to serve as a platform connecting local startups, investors, and support organizations, and to strengthen a startup support system focused on investment.

Jin-Dong Jeong, CEO of KINGO SPRING, stated, "This investment in MTG is a meaningful example that confirms the growth potential of local technology companies," adding, "We will continue to discover investment opportunities in Ulsan and the broader Yeongnam region, and actively support the growth of innovation-driven companies based in the region."

Jae-Yoon Kim, head of the Yeongnam Hub Center, said, "Starting with this investment, we will expand tangible investment outcomes for local companies," and added, "We will build a sustainable investment ecosystem through field-oriented discovery and support."

Meanwhile, KINGO SPRING is an accelerator with bases in Incheon, Seoul, Gyeonggi, and Chungcheong, connecting startup discovery, incubation, and investment. With the opening of the Yeongnam Hub and this investment, the company plans to expand its major bases nationwide and continuously strengthen the regionally-based investment ecosystem.

This content was produced with the assistance of AI translation services.