■ Smilegate Group concludes business agreement to donate 13 billion won to the Win-Win Cooperation Fund
■ Donation to be used for the discovery and development of young entrepreneurs, promising startups, and IP creation projects as well as to provide aid for building and growing an ecosystem for creativity, original works, and entrepreneurship
The Smilegate Group-Win-Win Cooperation Fund Contribution Agreement Ceremony was held at Smilegate Headquarters in Pangyo, Seongnam-si, Gyeonggi-do, in the afternoon of December 14 (Wed). CEO of Smilegate Holdings Joon-ho Sung (left) and Secretary General of Large and Small business and the Agriculture and Fisheries Cooperation Foundation Yeong-hwan Kim (right) pose for a commemorative photograph.
Smilegate Group (hereinafter referred to as ‘Smilegate’) announced on December 15 (Thu) that the company will donate 13 billion won to the Win-Win Cooperation Fund (hereinafter referred to as the ‘WWC Fund’) to contribute to building and growing an ecosystem for creativity, original works, and entrepreneurship within Korea.
Smilegate concluded the Win-Win Cooperation Fund Contribution Agreement with the WWC Fund on December 14 (Wed), making it the first company in the gaming industry to make such a contribution. The agreement ceremony took place at Smilegate Headquarters in Pangyo with CEO Joon-ho Seung and CFO Jin-beom Lee from Smilegate Holdings and Secretary General Yeong-hwan Kim and Vice President Do-hwan Kim from WWC Fund in attendance.
WWF Fund is a private fund through which domestic corporations donate to Large and Small business and the Agriculture and Fisheries Cooperation Foundation for win-win growth. It is a self-regulated private enterprise providing aid to small and medium businesses depending on the purposes prescribed in the Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises.
Donation to the WWC Fund by Smilegate will be used for building and growing an ecosystem for creativity, original works, and entrepreneurship within Korea. The company is planning to take lead in discovering and providing aid to outstanding young entrepreneurs and startups for this purpose. Smilegate has been providing aid for entrepreneurship and business management activities for young entrepreneurs for years through the independent entrepreneurship foundation Orange Planet, and this donation to the WWC Fund is expected to generate positive synergy with such activities.
In addition, the company is planning to establish a plan to provide aid to small and medium game developers and partners with STOVE Indie, Korea’s largest indie game platform, operated by Smilegate STOVE. The company also has plans to discover and provide aid for competitive IP creation projects related to movies, dramas, webtoons, animation, etc.
CEO of Smilegate Holdings Joon-ho Sung stated, “Smilegate has been striving to contribute to building a healthy entrepreneurship ecosystem and to the growth of startups through the independent entrepreneurship foundation Orange Planet and venture capital organization Smilegate Investment.” He added, “This donation to the WWC Fund represents our group’s effort to contribute to building and growing a healthy ecosystem for creativity, original works, and entrepreneurship, and we hope that this will serve as a foundation for the growth of newly emerging creators and a reliable bridge to aid early startups in their global expansion in the future.”