There is probably no country offering an as attractive startup environment as South Korea does. And that’s especially valid for foreign investors. Besides many soft factors like high security in the country and high-speed internet also the urban density of Seoul is a positive point. It’s easy to move inside Seoul, which is more like a state in the state, and get all information and network for developing new concepts from an early stage. Korea offers a view to the future of urban lifestyles. Even enterprises like Google choose to open a Google Campus as a commitment to the vibrant tech community. The Korean government is supporting heavily foreign investors and entrepreneurs with financial support and well-arranged incubation programs, even with tax-free startup periods and free soil.

Furthermore, there are notable Korean government organizations and agencies that support startups. The kind of support varies according to each organization’s setup and goals.

However, most of them support early-stage ventures and startups. Whether you are looking for funds, office space, VC partners, mentoring, acceleration, or global expansion, those below-mentioned companies, and organizations can help also in a combination of them.

MINISTRY OF SCIENCE AND ICT

The Ministry runs “The Korea Institute of Startup and Entrepreneurship Development” which focuses on helping promising startups get investments. In addition, they help pioneer markets, protect technologies, and help develop prototypes. The Ministry of SMEs and startups have devoted 85 million USD to help startups in Korea. https://english.msit.go.kr/eng/index.do

PANGYO TECHNO VALLEY

Pangyo Techno Valley is a Korean version of Silicon Valley in the USA. Located in Seongnam, Gyeonggi Province of Korea, the vast industrial and startup campus is home to some of Korea’s top tech companies such as NCSoft Corp., Kakao, SK Planet, Nexon, and other global companies. The combined revenue of companies based in Pangyo Techno Valley came to $85 billion in 2019.

Facilities for working and setup offices are numerous and Pangyo offers also an inspiring environment for the leisure time between brainstorm and an investment pitch. https://www.pangyotechnovalley.org/eng/html/support/startup.asp

KOREA CREATIVE CONTENT AGENCY KOCCA

The Korea Creative Content Agency (KOCCA), a governmental agency that oversees and coordinates the promotion of the Korean content industry, was established in May 2009 by integrating five related organizations, including the Korean Broadcasting Institute, the Korea Culture & Content Agency, and the Korea Game Agency.

KOCCA is headquartered in Naju, the so-called “culture and art city” of Jeolla Province, which is also known for its abundance of white pear flowers in full bloom every March. http://www.kocca.kr/en/main.do

CCEI CENTER FOR CREATIVE ECONOMY AND INNOVATION

The CCEI is one of the leading government agencies that help local startups and businesses to expand globally. Opened in 2014, it operates 18 local offices in 17 regions across Korea. The CCEI provides special assistance to small and medium enterprises from the regions. https://ccei.creativekorea.or.kr/eng/main.do