News

Seoul enters the top 20 list of global startup ecosystems

Seoul is now in the top 20 of global startup ecosystems. The city is already home to 8,708 startups, 85 accelerators, and 10 unicorns. While most markets around the world have taken a hit due to the COVID-19 pandemic, Seoul’s burgeoning biotech scene has helped position the city as a global leader. The city has a goal of reaching 20 startup unicorns by 2022.

Seoul’s strength as a hub for startups is that it has been ahead of the curve on tech adoption. Tim Chae of 500 Startups, a global venture fund and seed accelerator, says “Seoul’s been a tech frontier — a future of what’s to come to the US — since the ’90s. Whether it was high-speed internet, cell phones, games, e-sports, or microtransactions. I think that foundation is being realised to its potential today with the record amount of talented new entrepreneurs starting out.”

The government is making further efforts to bolster tech innovation and attract foreign entrepreneurs, such as lowering patent fees for startups and banks that provide funding, as well as introducing an easier visa program for foreign nationals.

Click here to read the full article.

AKBC Membership

AKBC welcomes new members from both the Australian and Korean business community.

Join now

What’s on

AKBC runs events on a regular basis to keep members informed about the latest developments in Australia-Korea trade and investment.

See events

AKBC Newsletter

AKBC issues a monthly newsletter about the latest trends and developments in the Australia-Korea relationship. Sign up to our free e-newsletter by entering your email below.

Australia Korea Business Council
PO Box 24430
Melbourne, Vic 3001 Australia
Liz Griffin – Executive Director
info@akbc.com.au

The Australia-Korea Business Council is the leading national body committed to strengthening the Australia-Korea economic relationship.