May 08, 2024

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[THE INVESTOR] A “global business support center” was opened in the Pangyo Startup Campus – the hub for digital business startups – on June 15.

The Ministry of Science, ICT and Future Planning said that the center will be a “gateway” for local startups to engage with overseas investors and to enter foreign markets.

The center is responsible for establishing a database of information related to startups here and provide potential overseas investors with this information.

 

Pangyo Startup Campus.

It will forge partnerships with foreign agencies such as China‘s Shanghai International Sourcing Promotion Center, the Fairfax County Economic Development Authority and Strong Ventures in the United States, according to the ministry.

“The center plans to provide support for South Korean startups to find business opportunities in China, the U.S. and other global markets,” a ministry official said. “Before long, Pangyo will emerge as a global technology innovation hub like the Tech City in London.”

In March, the Park Geun-hye administration launched the startup campus there, designed to offer a wide range of services for new businesses largely involving big data, fintech, the Internet of Things, cloud computing and mobile technologies.

It houses some 200 firms including the Yozma Group, an Israel-based global venture capital firm, and TEDCO, created by the Maryland State Legislature to support startups.

(theinvestor@heraldcorp.com)