By Honorary Reporter Anna Samolowka from Poland
Photos = Anna Samolowka

Poland's capital of Warsaw on Jan. 4 hosted the business networking event K-Startup Spotlight, which covered the Korean startup scene and business culture. 

The event was hosted by Marta Allina, a Polish expat who has lived in Korea for over a decade and is the founder of Seoul Startups, the country's largest international startup community. She shared her knowledge with those interested in doing business in or with Korea.

She described several of the most successful Korean startups and cited the rise in the number of venture companies investing in promising startups, as well as the Korean government's intent to continuously develop this field. 

The global introduction of ChatGPT last year has led to pressure and expectations to develop a Korean version of the generative artificial intelligence (AI) system. Thus startups in AI have grown prominent and many programs in Korea support both domestic and foreign startups in the field. While some are government funded, others receive support from major conglomerates like LG or Samsung, reflecting a collaborative effort to foster innovation and technological advancement.

A highlight of the event was a presentation and talk by Nam Ho-sun, a Korean corporate lawyer based in Poland who helps and advises Korean companies active on the Polish market. She shared her knowledge on Korean business culture and laws.

Nam emphasized the significance of building longtime business relationships in Korea based on trust, and acknowledged the challenges posed by cultural differences and the language barrier. Stressing proper research and preparation before building a partnership, she cited the example of a firm handshake, which is generally considered appropriate in Poland but can be seen as disrespectful in Korea as a sign of a party's intent to dominate negotiations.

The lawyer also described the strengths of Korea corporations, mentioning the country's advanced innovation and technology especially in shipbuilding, electronics, semiconductors, petrochemicals, cars, and information and communications technology plus its highly qualified workforce. She also emphasized the diversity of public support not only for startups but also corporations and investments.

Turning to challenges for foreign companies seeking to enter Korea, she said the country strongly protects its domestic businesses through means like non-tariff instruments and administrative controls that safeguard select sectors such as food, pharmaceuticals and cosmetics, similar to what the European Union does. If foreign companies want to enter Korea, she said they must secure official certificates. 

Among other key factors, Nam explained rapidly changing trends in Korea and the relative lack of brand recognition of Polish products there. The audience asked questions after her presentation and talk.

Given rising Korean investment in Poland and growing bilateral ties, this type of event is invaluable for both countries. A high number of people attended the event partly because of its infrequency but also due to burgeoning Polish interest in doing business in and with Korea.

jihlee08@korea.kr

*This article is written by a Korea.net Honorary Reporter. Our group of Honorary Reporters are from all around the world, and they share with Korea.net their love and passion for all things Korean.