The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Jong-ho Kim, hereinafter referred to as “KIBO”) announced that it held the “Korea-ASEAN Venture Finance Talk” in Singapore on Thursday, the 19th, in collaboration with the Korea-ASEAN Financial Cooperation Center and Sogang University’s Graduate School of Technology Management.
This symposium was held as part of the official schedule commemorating the opening of Kibo Singapore Branch, and was designed to discuss strategies for establishing a financial cooperation model between Korea and ASEAN and fostering a global talent startup ecosystem.
On this day, 38 people including domestic financial institutions, venture capitalists (VCs), and startup officials who have advanced into the ASEAN region attended the event and had a lively discussion, sharing their field experiences and insights, focusing on tasks and policy alternatives for activating global talent startups.
First, Kibo, which hosted the discussion, shared major policy tasks such as ▲financial support measures for companies advancing into ASEAN, ▲investment linkage programs based on technology assessments, and ▲strategies to support global talent startups. It also listened to the difficulties faced by venture and startups advancing overseas and presented future directions.
Moon Sung-wook, Dean of Sogang University’s Graduate School of Technology Management, who was the presenter, emphasized that in order for talented individuals who have studied and gained practical experience overseas to return to Korea and challenge themselves with entrepreneurship, they need to go beyond simple financial support and be supported by consistency and social acceptance across the entire financial system. In particular, he diagnosed that establishing a structure in which policy finance institutions can systematically buffer uncertainties and risks that may arise in the early stages of entrepreneurship is a key factor in activating entrepreneurship by global talents.
Next, Sang-yoon Kwon, CEO of AidMi, a young entrepreneur who is currently running a health tech startup in Singapore, said that market accessibility and practical networking opportunities are more important factors than funding in the early stages of a startup. He predicted that if a startup exchange program between Korea and ASEAN is institutionalized, the two-way startup ecosystem will be further activated.
Lee Young-jik, director of the Korea-ASEAN Financial Cooperation Center who co-hosted the symposium, said, “We expect Kibo’s technology finance model to make a substantial contribution to the creation of a startup and venture ecosystem in the ASEAN region,” and added, “We will continue to strengthen policy linkages and cooperation at the center level in cooperation with Kibo in the future.”
Kim Dae-cheol, CEO of Kibo, said, “I hope this event will be the starting point for policy discussions to establish a practical financial cooperation model between Korea and ASEAN and to foster a global talent startup ecosystem,” adding, “Going forward, Kibo will respond to the policy financing needs of SMEs, create an innovation ecosystem based on technology financing that transcends national borders, and broadly support global ventures and startups by expanding our startup and investment network.”
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