A startup center has opened in Pangyo, Gyeonggi-do (Gyeonggi Province). The Gyeonggi Center for a Creative Economy & Innovation is now the eighth such institution across the country. It will help small- and medium-sized enterprises (SMEs) take advantage of the strongly established information technology (IT) industry in the area.
During the opening ceremony held at the Pangyo Techno Valley on March 30, President Park Geun-hye said, "I expect that the Gyeonggi Center for a Creative Economy & Innovation, which opens today, will play the role of a 'bridge of harmony and conversion' by connecting innovation centers across the country, different industries, large conglomerates, SMEs, and, furthermore, Korea and the world."
"Pangyo is a mecca for Korea's game industry, as stock market-listed game software companies based in the district account for 85 percent of Korea's total game software sales, and for 70 percent of Korea's video game exports," said President Park. "The Gyeonggi center will fully take advantage of Pangyo's strengths and connect large gaming companies and related institutions so that young entrepreneurs in the future who are interested in developing video games and software will be able to realize their dream."
"Pangyo will become a base camp for small- and medium-sized startups and the Gyeonggi center will be a Sherpa and guide startups to find new markets," the president added.
As for the development of "fintech," that is, IT designed for the finance industry, President Park said, "The Gyeonggi center will bring together the resources and capacity held by financial firms, information and communications technology (ICT) companies, related institutions and the government. It will provide one-stop services to 'fintech' startups until their own creative and innovative ideas can be commercialized."
The innovation center is located in Gyeonggi-do, home to half of Korea's IT companies. It plans to allot KRW 105 billion to help create new businesses in video games, "fintech" and the Internet of Things (IoT) industries, and act as a bridge between innovation centers and international venture capital companies. By doing so, it will help innovative SMEs and startups find new markets and to receive investment.
The Gyeonggi center will also create a database of enterprises and try to connect them with international investors. It will also form a global network between global startup-related organizations, venture capital firms and big businesses.
By Limb Jae-un
Korea.net Staff Writer
Photos: Cheong Wa Dae
jun2@korea.kr
During the opening ceremony held at the Pangyo Techno Valley on March 30, President Park Geun-hye said, "I expect that the Gyeonggi Center for a Creative Economy & Innovation, which opens today, will play the role of a 'bridge of harmony and conversion' by connecting innovation centers across the country, different industries, large conglomerates, SMEs, and, furthermore, Korea and the world."
During the opening ceremony for the Gyeonggi Center for a Creative Economy & Innovation on March 30, President Park Geun-hye says, 'The Gyeonggi center will become a reliable Sherpa and guide startup companies to find new markets.'
"Pangyo is a mecca for Korea's game industry, as stock market-listed game software companies based in the district account for 85 percent of Korea's total game software sales, and for 70 percent of Korea's video game exports," said President Park. "The Gyeonggi center will fully take advantage of Pangyo's strengths and connect large gaming companies and related institutions so that young entrepreneurs in the future who are interested in developing video games and software will be able to realize their dream."
"Pangyo will become a base camp for small- and medium-sized startups and the Gyeonggi center will be a Sherpa and guide startups to find new markets," the president added.
President Park Geun-hye (third from left) talks with ambassadors to Korea during a ceremony to launch the Gyeonggi Center for a Creative Economy & Innovation.
As for the development of "fintech," that is, IT designed for the finance industry, President Park said, "The Gyeonggi center will bring together the resources and capacity held by financial firms, information and communications technology (ICT) companies, related institutions and the government. It will provide one-stop services to 'fintech' startups until their own creative and innovative ideas can be commercialized."
President Park Geun-hye (middle) examines an Internet of Things (IoT) spider robot at the Pangyo Techno Valley in Pangyo-gu District, Seongnam, Gyeonggi-do Province.
President Park Geun-hye (middle) makes a heart sign with her arms along with children at a daycare center after testing a live video feed that shows the inside of the daycare center.
The innovation center is located in Gyeonggi-do, home to half of Korea's IT companies. It plans to allot KRW 105 billion to help create new businesses in video games, "fintech" and the Internet of Things (IoT) industries, and act as a bridge between innovation centers and international venture capital companies. By doing so, it will help innovative SMEs and startups find new markets and to receive investment.
The Gyeonggi center will also create a database of enterprises and try to connect them with international investors. It will also form a global network between global startup-related organizations, venture capital firms and big businesses.
By Limb Jae-un
Korea.net Staff Writer
Photos: Cheong Wa Dae
jun2@korea.kr
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