With digital content increasing importance in the framework of the creative economy, interest is picking up in the Contents Korea Lab, which is expected to be a catalyst for creative activities and start-ups in the digital content industry. The Contents Korea Lab can be defined as a set of incubatin

Cooperation between government ministries and IT companies is on the rise for developing the cultural content industry. It is considered mandatory for the government and enterprises to work together to make a fair cultural content distribution environment and quality content. On October 7, the Minis

Over 100 small and mid-sized enterprises (SMEs) in Korea are likely to undergo restructuring with the recession amid the consecutive defaults of affiliates of conglomerates this year, such as STX Group and Tong Yang Group, the largest number since the peak of the financial crisis in 2010. Last year,

On September 16, the Ministry of Science, ICT and Future Planning (MSIP) held an opening ceremony for the Born Global Startups project at the Future Global Business Start-up Support Center in Sangam-dong, Seoul. The twenty selected global startup teams, three accelerators (startup incubation centers

Mid-size enterprises with annual sales under US$200 billion can now partially participate in the competitive market among small and mid-size businesses. Also, about 160 additional mid-size enterprises are now eligible to receive benefits under the “Research & Development Investment Tax Deduction,” s

President Park Geun-hye visited Hansae Vietnam on September 10. Located in Ho Chi Minh City, Hansae Vietnam is an overseas subsidiary established in 2001 by Hansae Fashion Worldwide, the largest clothes exporter in Korea. A total of 18,500 employees are working for it now, and only 100 of them are K

The government is working on comprehensive measures to cope with international patent disputes as non-practicing entities (NPEs) are stepping up their offensive against Korean firms. According to the Ministry of Trade, Industry and Energy and the Korean Intellectual Property Office (KIPO), the numbe

With the establishment of Venture Capital (VC), chosen as the first business operator of the Korea Venture Investment’s Fund of Funds, an additional 300 billion won in investment will go out to starting and mid-sized businesses in the global content, independent movie production, and other industrie

Korea has been classified as one of the most entrepreneur-friendly countries among G20 members. However, it has ranked as low as 14th when it comes to support measures for entrepreneurs. According to the entrepreneurship survey report published on August 29 by Ernst & Young, Korea topped the list al

About US$200 million (220 billion won) of foreign venture capital from Silicon Valley in the US will be invested in promising domestic venture businesses. This is the largest amount to ever be directly invested in domestic companies from overseas.When the fund investment is completed, the money will

Hando (CEO Kim Jeong-bae), a small-sized auto parts manufacturer in Korea, signed a 10-year, US$50 million-worth contract with ThyssenKrupp Presta (TKP) on August 27 to make inroads into the European car market. The contract is the product of 3 years worth of negotiations.Located in Cheonan City, So

Yigal Ehrlich, CEO of YOZMA Group and founder of the venture business support program YOZMA Funds, said, “Korea should focus on the bio and medical fields for small and medium sized venture businesses.” Ehrlich is from startup-rich Israel, a place where many small ventures are successful.On August 2

Parts makers struck by the stagnation in the premium mobile phone markets are overcoming this crisis by expanding their materials business.Mobile phone materials receive less pressure to lower prices and have a higher barrier to entry in the short term, leading to stable profits. More parts makers a

The Korean government is raising a fund of 100 billion won for investment in intellectual property such as patent rights, trademark rights, and copyrights, in an effort to boost creative economic activities. New preferred surety programs are being put into practice for the intellectual property indu

It has been found that the number of venture firms with sales of at least 100 billion won exceeded 400 last year in Korea. This is a six-fold increase compared to eight years ago, when such statistics began to be compiled.At the same time, no less than 54 venture companies broke the 100 billion won

Small & Medium Business Corporation (SBC) announced on March 12 that it has made a decision to enter into full operation of the expanded “2013 Smart Products Excavation & Support Project” from this month. The project is to unearth small and medium enterprises (SME)’s quality products that are no way

The Korea Trade-Investment Promotion Agency (KOTRA) established the Global M&A Support Center to assist small and mid-sized enterprises (SMEs) in Korea with global market penetration. The agency announced on February 4 that it opened the support center at the Invest Korea Plaza located in Yeomgok-d

“Our most important goal is to help small business and venture firms providing creative technologies take their place in a virtuous cycle,” said Dr. Kim Dong-sun, President of the Korea Small Business Institute (KSBI), stating the interview. He continued, “Korea can beat the current economic recessi

The Korea Chamber of Commerce & Industry (KORCHAM) announced on January 31 that it would increase the number of companies of middle standing in Korea from 1,400 or so to at least 3,000 between this year and 2015. “We’ll set up a new department to achieve the goal while trying to improve the busines

The Ministry of Knowledge Economy launches a national project to foster small businesses in the consumer electronics industry, providing them with support platforms optimized for the entire business cycles. Also, it is planning to provide tailored supports to one company per business item by matchi