South Korea’s venture capital market has been on a steady growth track for years. Last year, fresh investment in venture companies reached a record high of about 2.38 trillion won (US$2.1 billion). This sustained increase, says Lee Yong-sung, chairman of the Korea Venture Capital Association (KVCA),
Lee Kang-shin was reelected for his second three-year term as chairman of the Incheon Chamber of Commerce and Industry in March this year. His top goal is to make the chamber of commerce a center to communicate and realize win-win growth with three million Incheon citizens, putting into practice the
The open-air yard of Incheon Port, the gateway port for the Seoul metropolitan area is filled with rectangular containers that symbolize “Export Korea.” It is easy to find a container car running on a road near a port. Incheon Port handles 50% of the import and export traffic in the metropolitan are
The term of Cho Byung-don as a three-term mayor of Icheon city will be finished in June this year. For the past 11 years, in particular, he has tried to establish Icheon as a small but strong and well-planned city with a population of 350,000. As a result of his efforts, Icheon is crisscrossed with
“Absorbing content, seeing entertainment, traveling are things that people will be doing more of,” David Swan says when asked what a future in which artificial intelligence (AI) systems are commonplace. He sees a booming health and fitness industry, people with enough time for cooking and visiting u
As Lee Yong-sung, chairman of the Korea Venture Capital Association (KVCA), has been reappointed, BusinesKorea sat down with him once again to hear about what has been done during his first term as the chairman. He said, “The era of new investment worth 3 trillion won (US$2.64 billion) a year, which
Incheon Port currently connects the capital areas of South Korea with the world more closely through 46 container line services crossing Asia and Africa as well as the Americas, and the Incheon Port Authority (IPA) is the center of it.The IPA has come up with its strategy to achieve a goal of boosti
The start of 2018 Pyeongchang Winter Olympics are less than 10 months away. BusinessKorea met Lee Hee-beom, president & CEO of the PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games, to hear about the preparation and vision of the winter games. Lee told BusinessKorea t
Since Cho Byung-don took office as mayor of Icheon, the city has grown a great deal with many positive changes. In particular, the mayor emphasized the importance of intangible growth of the city. As part of such a move, Mayor Cho has been carrying out the "Icheon Happiness Sharing" campaign based o
North Gyeongsang Province occupies 20% of land in South Korea and plays a leading role in Korea's economic growth as a hub of the IT, steel and auto parts industries. In 2016, the province won the Presidential Award for attracting foreign investment and was honored as the best organization in attrac
On occasion of the annual Venture-Startup Festival this year, which is the largest business venture-and startup-related event in South Korea and celebrates its 20th anniversary, Business Korea had an exclusive interview with Kim Hyoung-young, Director General of Business Startup and Venture Bureau a
Established on January 30, 1979, the Small & medium Business Corporation (SBC) currently has the six headquarters including the Enterprise Support Headquarters (ESH), nine offices, 14 divisions, 31 regional headquarters and branches, five training institutes, one academy and one center. A total of 9
Business Korea sat down with Dr. Steven Lee, president of George Mason University (GMU) Korea, at his office in Incheon Global Campus in Songdo, South Korea. We asked him about the growth of the school and his long-term vision and the institution’s progress in its 2.5 years of operations. He shared
With just 20 days to go before Brazil’s first-ever Olympic Games, Business Korea (BK) had a chance to sit down with Luis Fernando Serra, the Brazilian Ambassador to Korea, to hear about Olympic preparations and the relationship between South Korea and Brazil. What follows are excerpts from the inter
In the wake of lifting the international sanctions on Iran, 236 South Korean companies and organizations accompanied President Park Geun-hye’s state visit to Iran starting from May 1. The size of economic mission is larger than any other in the history of the nation. Back last year, Park visited the
Gwangju City, which used to witness population outflow to the metropolitan area for years, has regained vitality since mayor Yoon Jang-hyeon took office in July 2014. The mayor has focused on job creation in the region above anything else, and now the city is crowded with young people doing business
On March 10 this year, the North Gyeonsang provincial government was reopened after having been relocated from Daegu City to the Andong and Yecheon area.Kim Kwan-yong, governor of North Gyeonsang Province believed the relocation is not just about having new buildings in a new area, rather, it will c
Future entrepreneurs and venture firms do need capital to start and expand their businesses based on brilliant ideas. The Korea Venture Capital Association (KVCA) is one of the organizations striving to help them with various venture capital firms in South Korea. The following is an interview with K
The Gyeongnam Center for Creative Economy & Innovation celebrated its first anniversary in Changwon, Gyeongnam Province on April 20. The celebration hosted some 150 people including Choi Yang-hee, minister of the Ministry of Science, ICT & Future Planning, Ryu Soon-hyun, administrative vice governor
In conjunction with Lotte Group, Busan serves as a front base for innovative, vital local economy in the ranges of distribution, film, Internet of Things (IoT), etc. Busan will be the national business hub for film and contents creation in conjunction with its film infrastructure and the convergence