Global Giants

Han Jung-hwa, administrator of the SMBA, gives the opening speech for the “Meet the Global Companies 2015” event on June 1 in Seoul.
Han Jung-hwa, administrator of the SMBA, gives the opening speech for the “Meet the Global Companies 2015” event on June 1 in Seoul.

 

The Small and Medium Business Administration (SMBA) and Small and Medium Business Corporation (SBC) announced that they hosted the “Meet the Global Companies 2015” on June 12 in the Conrad, Seoul.

Being held for the first time in Oct. last year, the second event was attended by five global companies in the information communication technology (ICT), semiconductor, energy, and environment sectors, such as Intel, Siemens, Sandisk, Applied Materials, and Tencent, this year as well.

Also, 23 domestic startups and venture companies participated in the event. These were selected for higher growth potential in the sectors in which global firms are interested.

Beginning with a keynote speech about its business direction, M&A strategy, venture investment strategy, and the latest technological trend of five global giants, the event included discussion about various issues such as strategic partnerships, M&As, and investment attraction through the 23 startups and venture companies’ corporate publicity (IR), and one-on-one in-depth consultations with global enterprises.

Also, six domestic venture capital firms also attended the event to carry out investment consultations with participating small and medium sized venture companies.

The five participating global firms said that they were surprised at the technology and growth potential of Korea’s startups and venture companies, and the domestic companies were attractive enough to invest and propel M&As. Also, they said that they are planning to actively consider and take follow-up measures about what they discussed at the event.

Global companies expressed an intention to cooperate with Korean businesses in various fields. They also announced a plan to implement follow-up measures promptly in relation to the outcomes of discussion and consultation in this event.

SMBA’s administrator Han Jung-hwa said that Google established the Google Campus in Seoul for the first time in Asia last month, and 500 startups of U.S. accelerators and Tencent of China raised joint funds with China to invest in Korean companies. It shows global companies’ positive feedback and intentions to invest in Korean startups and venture companies, due to their competitiveness and capability. He also said that the Korean government has planned programs to foster global startups, which seek overseas expansions from its inception, and the SMBA will continuously establish cooperation with the government by raising joint funds with global leading venture capital firms.

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