A joint project between the Startup Committee and YCN… A day to reveal the failure of the "Deheun" concept.
"It's not failure that we fear, but stopping. We move forward."
“The moment you stop fearing failure, success begins.”
“It’s no fun if you succeed at once!”
People dressed as grim reapers and wearing hats appeared in a lounge in Seoul's Yongsan Electronics Market. Despite the terrifying grim reapers wandering around the dimly lit space, lit only by candlelight, everyone in attendance shared a bright, radiant presence.
On September 5th, the 'Fail Fair', an exhibition of entrepreneurial failures jointly planned by the Startup Committee (Chairman Lee Yong-gyun) under the Korea Venture Business Association and YCN (Young CEO Network), was held at the Yongsan Prototype Manufacturing Center in Seoul.
Upon entering the site, phrases about failure and challenge are displayed in a row right from the entrance.
As you walk down the hallway, a large slogan on one wall catches your eye: "∑ Failure = Challenge." This isn't just a typical lecture or exhibition, but a festival-like event where "those who have failed can come together and laugh."
From healing to awards… Networking for empathy
The first session began with healing therapy by Park Ji-eun, CEO of Maummoem. She shared insights on managing the mind as a leader, helping entrepreneurs navigate the pain of failure. They also had time to relieve tension through simple stretching exercises.
This was followed by a lecture by Yang Jun-cheol, a member of the Startup Committee and CEO of OnOffMix. Rather than a success story, he spoke in a playful and challenging way about his career, which began in adolescence, the difficulties he faced along the way, the emotions he experienced while facing his "failure," his recovery, and his resurgence.
After the lecture, a session was held where attendees presented their stories of overcoming failure, and an awards ceremony and networking time were also held.
K-pop Demon Hunters' "Blithe Failure" borrows from the "Kedehun" trend.
One of the highlights of the day was the attire of the event staff. The dress code was black, and all staff members appeared dressed as grim reapers, wearing hats. This production borrowed from the recent trend of "Kedehun" (a type of "failure"), which has become popular among Generation Z. They attempted a lighthearted and refreshing approach, infusing a sense of playfulness into the potentially heavy and difficult subject of "failure."
In front of the 'STARTUP DEATH VALLEY' poster set up as a photo zone, senior and junior entrepreneurs freely interacted with each other while enjoying snacks and drinks.
Instead of asking, "How's business these days?", we could ask, "Why did you fail back then?" In this free atmosphere, we had a conversation about crossing the valley of death called crisis and walking together toward survival.
The first step toward making failure "our story": "Fail Fair."
From the very beginning of planning this event, the Startup Committee prioritized "creating an environment where failure experiences can be safely shared," and strategically collaborated with YCN to prepare. This was based on the philosophy that while "failure" is often considered a taboo, a shameful experience to be hidden, a healthy ecosystem stems from a structure that "allows even those who fail to be applauded."
Lee Yong-gyun, chairman of the Startup Committee, said, “Unicorns are symbols, but the real protagonists of the ecosystem are those who stand up again,” and added, “The challenge and success of overcoming failure is the new language of startups that we will create.”
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