FOR IMMEDIATE RELEASE                     
Dec. 13, 2024                                                                                   
 
Ministry of SMEs and Startups Hosts K-Global Venture Capital Summit 2024

SEJONG – On December 10, 2024, the Ministry of SMEs and Startups (MSS) hosted the K-Global Venture Capital Summit 2024 at LOTTE Tower SKY31 in Seoul. The event included a Global Venture Investment Meeting, with approximately 70 participants, including representatives from 51 global venture capital firms visiting Korea.

Organized in partnership with the UK-based media company Global Corporate Venturing (GCV), the K-Global Venture Capital Summit 2024 was held in conjunction with COMEUP 2024. A large-scale delegation of 51 venture capital firms from 13 countries visited Korea, making this the largest gathering of global venture capitalists ever at a single event in Korea.

The summit saw participation from over 10 major investment institutions, including firms with total assets under management (AUM) exceeding KRW 1 trillion. Among the notable attendees were Pavilion Capital, a subsidiary of Singapore's sovereign wealth fund Temasek, as well as corporate venture capital arms (CVCs) from global giants like Salesforce and Aramco. Their presence underscores Korea's growing role as a central hub in the Asian venture investment ecosystem.

The event kicked off with the Global Venture Investment Meeting, followed by networking sessions, CVC workshops, and the K-Global Star IR program. The program was designed with a strong emphasis on networking to foster practical investment collaborations between 30 domestic venture capital firms and the 51 global VCs in attendance.
During the Global Venture Investment Meeting, global VCs were briefed on Korea's venture ecosystem and its policy direction. They were also invited to share their feedback on the COMEUP 2024 event and the broader Korean venture landscape. Dave, a General Partner at Altara Ventures in Singapore, praised Korean startups for their technological expertise, innovative spirit, and creativity. He expressed a strong interest in increasing his firm’s investments in Korean startups in the future.

Minister OH Youngju welcomed the global venture capital representatives, stating, “The gathering of global VCs today is a wonderful opportunity to connect Korea’s dynamic venture and startup ecosystem with the global economy. Your presence here is a bridge to expand Korean startups into international markets.” She also emphasized, “The Republic of Korea is committed to building strong partnerships with global venture capital firms, and we hope this summit marks the beginning of fruitful collaborations between global VCs, Korean venture capitalists, and the Korean government.”