TheVentures and Hite Jinro officially opened the shared office, ‘New Block’. The New Block located in the 16th floor of Seocho Building of Hite Jinro contains the symbol of a new generation and new space. This is expected to assist startup growth through interactions with investment company TheVentures and major firm Hite Jinro with startups in the same space.
New Block is a three-minute walk from Exit 3 of Nambu Terminal Station and is equipped with an open desk, 6 meeting rooms and 18 offices in a space of over 1600 sq.m. This is twice as big as the existing Startup Center operated by TheVentures in Yeoksam-dong, with a variety of convenient facilities such as a cafe lounge, a phone booth, a conference room, with simple refreshments and drinks.
Seven startups including TheVentures have finished moving into the New Block prior to the official opening, and various startup-related institutions and foreign startups are expected to move in, in addition to TheVentures portfolio company. Also, a variety of seminars and events will be regularly held to help strengthen start-up abilities with professional mentoring provided by TheVentures judges in the Block.
With this opening of the New Block, TheVentures and Hite Jinro plan to conduct joint investment, joint accelerating, and other various programs.
On the other hand, TheVentures is an early corporate professional investor founded by CEOs Changsung Ho and Jiwon Moon who also established ViKi of Silicon Valley, which was sold to Rakuten for USD 200 million. It is an operator of TIPS (Tech Incubator Program For Startups), a leading accelerator and private investment-led technology start-up support program in Korea, with overseas branches in Vietnam and India, and is investing in startups that are likely to advance into the global market.