To advance such efforts and discuss ways to better support global startups, the Ministry of SMEs and Startups held a roundtable talk event in Seoul, Thursday, inviting companies which won the K-Startup Grand Challenge, a state-run startup accelerator program.
In the meeting, Startup Ministry Park Young-sun vowed to come up with more policies that can better support global startups running their businesses here.
“We are living in times where setting up a new business is more about where you start, rather than who runs the business. Korea was the first in the world to commercialize 5G telecommunication, and has already surpassed 4.35 million subscribers. Against this backdrop, Korea is well matched to be a new land of opportunity for global startups as Asia’s tech hub, equipped with advanced infrastructure and technology,” the minister said.
“Recently, the passing of the three data-related acts at the National Assembly has enabled our ministry to fully support the industry. This recent development will help those pursuing new business models in big data, AI and related new industries, providing a breath of fresh air to companies who faced certain barriers in respective fields in the past,” she added.