Pangyo: The South Korean Silicon Valley

“Pangyo,” the South Korean Silicon Valley, is emerging as the latest hot spot of the thriving startup ecosystem. It is known for IT city startups wanting to connect with the global market.

The Korean government is in the process of opening a 582,000+ square-foot startup campus in Gyeonggi province to nurture domestic startups and provide connections to a global community.

The Korean government aims to achieve the following: provide stable business space for ICT field startups and venture companies to build a startup hub where VCs, angels, accelerators and startup supporting institutions can conveniently exchange ideas.

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K-ICT Born2Global Centre, led by Chief Executive Director Jong Kap Kim, is the main government agency under the Korean government’s Ministry of Science, ICT and Future Planning, under Minister Yanghee Choi.

It conducts the above purpose with an aim to merge different industrial sectors, mostly with information and communications technologies, to generate new business opportunities and foster the growth of startups at the “K-Global Startup Hub @ Startup Campus”.

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More than 50 startups with global entry potential have been selected by Born2Global, global VCs and accelerators.

Founded in September 2013, Born2Global has contributed to building a strong foundation for successful investment attraction by establishing a favorable environment for startups to receive investment.

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Born2Global has contributed to bringing in investments of over USD$133.2 million for 62 startups.

Also, Born2Global’s experts have conducted 4,537 consulting services to 2,921 startups, including 358 overseas patent applications, 198 overseas business contracts & alliances and 26 overseas incorporations.

“We believe that startups can become independent, and through the development of unique business models, can compete with global companies,” Jong Kap Kim, Chief Executive Director of Born2Global said. “Diverse benefits are being offered in various combinations to maximize synergy.”

Photo courtesy: K-ICT Born2Global Centre