The Ministry of SMEs and Startups announced on the 27th that it will hold an event to commemorate the first anniversary of the Global Startup Center (GSC) in Yeoksam-dong, Seoul.
Opened in July last year, the GSC has served as a hub for foreign startups, with over 7,000 overseas innovative entrepreneurs visiting and utilizing the center from more than 100 countries over the past year.
The event will include the following: ▲ announcement of policy achievements and future plans ▲ founding ceremony for the foreign entrepreneur community ▲ overseas venture forum.
In particular, the 'Global Startup Office (GSO),' which serves as office space for foreign entrepreneurs, will also be opened on this day. The GSO, equipped with 69 seats, supports the stable establishment of overseas startups that have entered the domestic market.
Having discovered and attracted over 140 promising overseas startups in the past year, the Ministry of SMEs and Startups plans to enhance policies to secure new growth drivers.
Recently, in cooperation with the Ministry of Justice, the system was improved, allowing foreign professionals in fields such as professors (E-1), researchers (E-3), technology advisors (E-4), and specialized job (E-5) to start businesses while maintaining their existing residency status after undergoing assessments for business viability and innovation, along with recommendations from the Ministry of SMEs and Startups.
The Ministry of SMEs and Startups plans to strengthen promotions targeting professionals such as professors and researchers, and provide support for entrepreneurial activities, including preferential treatment for participating in government-funded projects.
Support infrastructure will be expanded to the regions, allowing overseas startups concentrated in the metropolitan area to settle by collaborating with local research facilities and industries. At the same time, tailored support such as securing investments, developing sales channels, and partnering with large corporations will be provided by matching dedicated managers for companies with a high likelihood of success.
Additionally, efforts will be made to support the establishment of foreign entrepreneur communities and the creation of online platforms, enabling them to take root as part of the Korean startup ecosystem. Opportunities for collaboration between domestic and foreign startups and investors will also increase through privately-led overseas venture forums.
Lim Jeong-wook, director of the Startup and Venture Innovation Office, noted, 'We have laid a foundation for foreign entrepreneurs to settle and grow stably in Korea over the past year,' and added, 'We will continue to support global innovative talents in freely entering the Korean market and help Korea become a hub for overseas innovative startups.'