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"Companies that create social impact can also become large enterprises. We're doing this by bringing together companies that struggle to survive on their own and creating synergies together. NewBlack aims to establish itself this year as a corporate group that creates stable and sustainable impact. Through a holding company model, we will create an ecosystem centered on players.' Last year, Underdogs transitioned to a holding company structure and announced its focus on innovative entrepreneurship education. At the same time, the role of impact startup builder was transferred to the newly established parent company 'NewBlack.' Kim Jung-heon, CEO of NewBlack and founder of Underdogs, explained: "Rather than changing what we do, the intention was to make it easier to do what we want to do. Underdogs develops 1,000-1,500 founders annually and discovers good entrepreneurs and teams, while NewBlack connects them to angel investors, makes seed investments, and incorporates them as subsidiaries." Thus, NewBlack executed investments in three local startups last year. Local startups were discovered through the 'Localize Gunsan' urban regeneration project conducted by Underdogs and SK E&S, and naturally NewBlack became interested in them. "The investment scale is at the seed stage level, not very large. Instead, we're focusing on investor pooling and follow-up support," CEO Kim said, adding "Original local players and small-city content companies are increasing. Barriers to inter-regional movement have also lowered. In the future, companies that preserve regional characteristics will increase not just in tourism. We will continue investing, seeing the potential that local markets hold." There were also two cases of subsidiaries being spun off independently, though not as investment returns. 'Resignation School,' a career education company for prospective quitters, and 'BAETI,' a brand marketing company, were examples. Through this spinoff, while NewBlack didn't earn money, it's meaningful that it provided support to enable independent operation. Kim said, "This year we plan to create more impact startup subsidiaries. We will particularly focus on space-based businesses and companies solving childcare issues. In the space business, 'JustLive,' which provides single-occupancy housing by remodeling old gosiwons, is already part of our group. We've secured 400 rooms in the Shinchon area and plan to secure 600-700 by year-end. We'll add services related to youth living including laundry and delivery," explaining that Underdogs plays a strong channel role. Meeting nearly 1,500 entrepreneurs annually allows accessing diverse ideas faster than anyone and easily understanding space needs. Leveraging this, NewBlack is beginning to establish an impact community. CEO Kim said, "This year is when NewBlack truly does business. We'll create and invest in impact startups and show various attempts combining software and hardware," adding "Starting with Underdogs' new headquarters in Anguk-dong, Seoul in November, we will acquire buildings and fill spaces with teams discovered by Underdogs." Global business expansion also awaits through Underdogs. It plans to provide innovative entrepreneurship education in local languages in Chinese-speaking regions including mainland China, Hong Kong, and Taiwan, and train local coaches. Previously, it conducted education in 12 Asian countries through local partner institutions in English. In Asia, as the startup education market either doesn't exist or is just beginning, Underdogs is relatively ahead. In China, where the concept of social economy is just starting, opportunities are ample. When asked what criteria would be used to select trainees, he answered those with openness and receptiveness. "Since these are very early-stage teams, there's little to see besides personal characteristics and vision," he said, adding "Most are highly pivotable teams. Teams that well accept coaching, execute with drive, and can quickly move to the next stage will create synergy with our education." As Underdogs commits to education, it appears to evolve closer to edtech. It felt the need to overcome physical and time distances, such as regions outside the capital or overseas, and effectively deliver educational content. "Developing a platform is one approach. By year-end, we'll compile a database of 1,500-2,000 Underdogs trainees and consider various options. As we expand the alumni pool to Asia, we plan to include overseas entrepreneurs in our entrepreneur database platform." Ultimately, plans are to create a sustainable impact ecosystem. CEO Kim stated, "If players become the center of the ecosystem, wouldn't startups increase and entrepreneurs focus more on problem-solving? NewBlack is more like a player going through the process of establishing and growing companies rather than an investor. We want to become an ecosystem ourselves or form one with others and find answers to these questions," he concluded. "With this administration forming social impact funds through sovereign wealth funds, investments have increased. As the market moved away from the dichotomous framework of clearly distinguishing social enterprises from others, the market has grown. Still, impact startups are far fewer than general startups," CEO Kim said, "It would be great if various partners including general investment firms joined us in this challenge. We'll establish a pipeline, connect Underdogs graduate teams and our subsidiaries with various support institutions, investors, and companies, and create the day when impact unicorns are born domestically."