Smilegate Orange Planet Startup Foundation, or Orange Planet, said on Jan. 22 it will run an “IPO study group” for startups valued at 100 billion won or more that are considering an initial public offering (IPO).

The IPO study group is a programme designed to help startups review the full IPO preparation process and develop practical solutions. Unlike programmes focused on short lectures, it is structured as a long-term course spanning pre-diagnosis, execution and follow-up.

Startups that have grown beyond a certain level face a range of practical tasks at once during the IPO process, including internal controls, governance, listing strategy and shareholder communication. With higher entry barriers in the current IPO environment due to revisions to commercial law and tighter pre-listing review requirements, theory-based lectures and knowledge alone do not enable proper responses. Orange Planet set up the programme after deciding that optimised support based on each company’s circumstances is needed.

The programme prepares companies for both general listings and tech-special listings that are evaluated based on technological competitiveness. It covers practical cases across the IPO process, including conditions and strategies by listing track, considerations when selecting an underwriter, preparation for preliminary listing review and subsequent procedures.

Experts with practical experience in IPOs and tech-special listings will also join as mentors. Mentors include Kim Soo-hwan (김수환), a director and former Korea Exchange listing examiner and startup chief financial officer, lawyer Jung Hong-gyu (정홍규) of Sejong, and Lee Sang-jin (이상진), head of Pathway Partners, who will provide company-specific advice. Mentees include startups such as Seolroin, Mathpresso, Nthing, Maysa, Welt, Tosslab and Uisikju Company that are reviewing an IPO or are in the preparation stage.

The IPO study group will run for 4 months starting today. Through lectures and one-on-one mentoring, it plans to assess each company’s IPO readiness and conduct a comprehensive analysis of key items including internal controls, governance, growth potential and financial stability.

“The IPO study group is a programme that checks the preparation process startups need to move to the IPO stage,” Seo Sang-bong (서상봉), head of the Orange Planet centre, said. “I hope it will help reduce the burden of preparing for a listing through practical discussions tailored to each company’s situation,” he said.