Korea is facing a crisis as the market is shrinking rapidly due to aging and population decline. The path venture companies must ultimately choose is going global. When you start a business overseas and attract local capital, Korean capital must be invested alongside it to create a virtuous cycle.
Lee Gi-ha, head of Sazze Partners, said this on Dec. 3 at the 2025 IBK Venture Startup Connection Festival held at Seoul Dragon City in Yongsan-gu, Seoul. Sazze Partners is a Silicon Valley-based venture capital (VC) firm that launched as Primer Sazze Partners in 2018 with domestic accelerator (AC) Primer and changed its name to Sazze Partners in Apr.
The event was prepared by Industrial Bank of Korea (IBK) under the theme of the meeting of technology and capital to provide technology-based startups with investment, markets, and global networks. About 500 people, including startups, VCs, large corporations, and related institutions, attended.
Industrial Bank of Korea (IBK) supplied 2.5 trillion won in venture capital to more than 3,000 innovative ventures and startups from Jan. 2023 to Nov. this year, and 34 companies among them succeeded in going public. The startup incubation platform IBK Changgong also discovered and nurtured 1,158 innovative startups as of last month.
At the morning session, innovative companies at home and abroad, including FuriosaAI (semiconductors) and Noasfarm (Foodtech), and major investors such as DSC Investment and Sazze Partners shared strategies for successful fundraising and global expansion.
Jang Young-jun, head of Noasfarm, said, Going overseas is an inevitable trend, and regulations that make it difficult for Korean VCs to invest in Korean founders just because they are overseas companies need to be improved.
Yoon Geon-soo, head of DSC Investment, emphasized, You need to prepare at least a year before the point when funding becomes necessary, and the best approach is to clearly define why you chose to start a business and the problem you are trying to solve to persuade investors.
In the afternoon, a future strategy industry forum followed, where experts in artificial intelligence (AI), bio, and culture introduced innovation directions for each industry.
In the AI session, Lee Se-young, head of Wrtn Technologies, who released a presentation, explained the background for newly establishing the in-house independent company (CIC) WrtnAX. Lee said, Demand for AI transformation (AX) is rapidly increasing in corporations, schools, and public institutions, and added, Wrtn will use the technology accumulated over the past five years to provide B2B services and nationwide AI literacy education to help everyone transition to AI.
In the bio session, Lee Hak-jong, head of IMGT, introduced the focused (gathering into one place) ultrasound medical device IMD10, which helps drugs pass through blood vessel and cancer cell walls to reach tumors. Lee explained, Bio and healthcare require years of research and development from early research to clinical stages, and added, Thanks to support from multiple investors, we were able to reach the U.S. Food and Drug Administration (FDA) clinical approval stage.
In the culture field, Park Jun-seo, head of production at SLL, presented a global K-content strategy. Park said, It is not easy for Korea to produce large-scale works like K-pop Demon Hunters on its own, but added, The fact that content with Korean elements has been recognized in the global mainstream market means the markets we can enter are wider.
Park also introduced SLL's global business structure. SLL is expanding its business around domestic drama exports, global OTT original production, and co-productions with overseas partners, and is also broadening into multiplatform distribution, local production, and ancillary businesses based on K-culture.
Park said, Collaboration between industry and financial institutions is essential for the sustainable growth of K-content, adding, The World of the Married and Kim Manager, Who Works at a Big Corporation and Owns a Home in Seoul were also produced with Industrial Bank of Korea (IBK), and we are discussing investments for next year's lineup.
As the final program of the event, a demo day was held where IBK Changgong startups presented their business models, technologies, and achievements to investors and corporations.
IBK Changgong is an accelerating program in which Industrial Bank of Korea (IBK) selects promising startups and supports them with investment, mentoring, and overseas expansion. Targeting innovative corporations within seven years of founding, it systematically supports growth by leveraging Industrial Bank of Korea (IBK)'s accumulated expertise in small and midsize enterprise finance, consulting capabilities, and networks.
Sixteen startups based at the centers in Mapo and Guro in Seoul, Daejeon, Busan, Gwangju, and Daegu participated in this demo day. The participating corporations ranged from the bio sector, including eco-friendly functional bio materials and non-viral gene delivery platforms, to companies developing hybrid solar cell films, solar cells for space and aviation, and AI Semiconductor process automation solutions. These companies also set up separate booths outside the venue to directly introduce their technologies to investors and corporate officials.