“The synergy of culture and technology unique to Korea is the growth engine”
CEO Ryu Joong-hee, “The fusion of technology and culture is a uniquely Korean weapon”
Lee So-hyung, CEO, “K-Beauty, Growing Along with the Evolution of Global Consumers”
CEO Park Ki-ho, “Attracting $10 billion in investment annually… On par with Silicon Valley”
“We are no longer tied to a particular market. The world is our stage.”
The diagnosis of the startup leaders we met at the UKF 2025 Startup Summit on the 10th was clear: a new leap forward for Korean startups is beginning by combining the technological prowess of Silicon Valley with the cultural power of the Korean Wave.
Ryu Joong-hee, CEO of Futureplay, emphasized the unique competitiveness of Korean startups. “Silicon Valley is strong in technology but lacks cultural appeal, while LA is the opposite. But Korea is the only country that has both.” He cited Organize, which started in Korea and then moved to the U.S. and succeeded in Japan, as a representative example.
Lee So-hyung, CEO of Skin Angel, a global beauty brand with annual sales of 300 billion won, found the growth engine of K-beauty in the changes in global consumers. “Consumers around the world are becoming more sophisticated and sensuous. This trend is driving the growth of K-beauty.”
He explained the power of K-beauty by citing his experience during the THAAD crisis in China. “At that time, Korean companies were hit hard, but K-beauty was different. Even when smartphone sales plummeted and large discount stores completely withdrew, K-beauty only saw a 30-40% decrease. This is our essential competitiveness.”
Park Ki-ho, CEO of LB Investment, pointed out the rapid growth of the investment ecosystem. “$10 billion of new funds are flowing into the Korean VC industry every year. It is time to stand shoulder to shoulder with Silicon Valley.” Having invested in 500 companies over 28 years and created more than 100 success stories, he evaluated that “Korea is evolving from a manufacturing powerhouse to a soft powerhouse.”
The three experts also spoke with one voice on future strategies. CEO Ryu Joong-hee emphasized, “There is no meaning in distinguishing between startups by country,” and “We need a truly global mindset that utilizes each country’s systems and markets as strategic tools.”
Lee So-hyung suggested the evolution of branding. “While American brands focus on storytelling, K-brands tend to emphasize functionality and performance. Now is the time to combine these two strengths.”
CEO Park Ki-ho said, “When Silicon Valley’s global DNA and Korea’s technological and cultural capabilities meet, infinite possibilities open up,” and advised, “It is time for Korean companies to actively consider global M&As beyond domestic IPOs.”
What emerged from their conversations was a strong belief in the global growth of Korean startups. They predicted that the unique fusion of technology and culture, a mature investment ecosystem, and harmony with global trends would serve as a springboard for a new leap forward.
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