On the 10th, Vice Minister Kim Sung-seop of the Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) held a policy sharing session on the topic of ‘Globalization of the Startup Ecosystem’ at the Seoul Global Startup Center.
About 20 people attended the event, including foreign startups that participated in the K-Startup Grand Challenge, officials from the Korea Institute for Startups and Entrepreneurship Development and the Gyeonggi Center for Creative Economy and Innovation.
Starting with an introduction to the Ministry of SMEs and Startups' inbound (domestic startups by foreign entrepreneurs) policy, the event included case presentations by companies participating in the K-Startup Grand Challenge, and time to discuss ways to globalize the Korean startup ecosystem with attendees.
The discussion included in-depth discussions on the strengths and growth potential of the Korean startup ecosystem, difficulties faced by foreigners starting a business in Korea, and ways to improve inbound startup policies.
Vice Minister Kim Sung-seop said, “We will actively review the ideas and advice suggested by foreign entrepreneurs at this policy sharing session so that they can be turned into policies,” and “We will actively attract promising overseas startups and support their settlement in Korea to expedite the birth of Korea’s first foreign-founded unicorn company.”
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