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Seoul: Where business opportunities abound and entrepreneurial dreams come true

Seoul, South Korea, is a dynamic city; a place not only just where the old meets the new, but also where the old and the new work together to create the future. A vibrant, modern metropolis of more than 11 million smart, savvy and hard-working people, Seoul is also a peaceful place where trends are broken yet also where traditions are respected. Seoul is where walls are broken down and bridges are built, and where even the government is committed to helping make your business dreams come true as the city looks to become the “Global Open Platform Startup City.”

A Dynamic City steeped in but not bound by tradition

Korea is an old country with a rich, ancient culture, that while respected and revered, does not hold its people back. The Republic of Korea is a vital, democratic and forward-thinking country, and nowhere is this more evident than in its capital, Seoul. Its educational institutions are among the best in the world – and have for the fourth year in a row earned South Korea the top spot on the United Nations’ index of national education systems. This is a city where people the world over come to discover the future – the future of fashion, the future of technology, and the future of business.

Seoul, where the government is welcoming and supportive of new businesses

The city hosted its first global start-up event, “Start-Up Seoul: Tech-Rise 2019” that had more than 300 start-up related organizations from nearly 20 countries in attendance to collaborate and learn. Toy’s Myth, a start-up that’s created a subway congestion analysis system, reached an agreement to export its tools to the Mass Rapid Transit Authority of Thailand and other organizations and companies in Thailand to study congestion, making it the first company among Seoul’s test-bed companies to expand its business abroad.

Mayor of Seoul Park Won-soon sees “Start-Up Seoul” as the beginning of a strong initiative to grow Seoul’s start-up market and continue Seoul’s spot as a global hub for entrepreneurs.

“The city will expand 1,000 spaces for technology start-up companies by 2022 as a platform to cooperate and share startup resources and information,” he says, “to foster core industrial clusters to establish governance to share resources and information. The city will also focus on building a Seoul start-up platform that connects various public and private infrastructures and services, including start-up programs, investments, and sharing resources. We will ensure that citizens and global players receive systematically interconnected support.”

Also as part of “Start-Up Seoul,” three companies, Seojin FNI, Sijung and Replay, were selected as winners in and will be given the opportunity to secure outlets to sell their products directly in China, as well as to mass-produce them in China, in cooperation with the Chinese hardware accelerator iMakerbase.

As the president of the Republic of Korea, the famed human-rights lawyer Moon Jae-in has repeatedly told gatherings of businessmen at tech fairs, job fairs, and many other gatherings, “this country is committed to supporting you and your dreams.” Few, if any, governments can boast of being as helpful to start-ups and new businesses as the Republic of Korea, and none of the many large cities in the country are more welcoming or have more resources to make the dreams of businesses come true than Seoul. An extensive network of government agencies and offices at the local and national levels have the expertise, the funds, and the drive to attract new businesses and help them flourish. Together with its educational and financial institutions, they have made Seoul your next destination for opportunities.

Home Base to some of the world’s top companies

Seoul is the home base and beating heart of many of the most innovative, most productive and most profitable corporations on earth. This city is where electronics industry giants Samsung and LG, automotive legends Hyundai and Kia, and vast conglomerates like SK Industry have found the talent and investment and support that have enabled them to tread the path to greatness. Yet it is also where thousands upon thousands of small businesses thrive, drawing strength from the rich environment of a sprawling, ever-growing city, a city steeped in history yet whose people are always looking to the future.

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