[Pangyo Interview] Lee Jun-woo, Director of GBSA, Highlights Pangyo Techno Valley as Optimal for Startup Nurturing

Lee Jun-woo, Director of Techno Valley Innovation at the Gyeonggi Business & Science Accelerator(GBSA), participated in the Global Media Meetup for interviews.

PANGYO, GYEONGGI-DO, REPUBLIC OF KOREA (SOUTH), August 3, 2024 /EINPresswire.com/ -- Pangyo Techno Valley², a global innovation hub in South Korea, hosted the 'Pangyo Global Media Meet Up' to share issues from Pangyo and its innovative companies with the world. This event facilitates networking between Pangyo companies and global innovation hubs like Silicon Valley, Station F, and China's Zhongguancun. It sets up meetings with international media to promote local businesses through global media channels.

During the recent 'Pangyo Global Media Meet Up' held on the 22nd, Lee Jun-woo, Director of Techno Valley Innovation at the Gyeonggi Business & Science Accelerator¹(GBSA), participated in interviews with Helena Stone, editor of GEEKSPIN based in New York, and Leo Thevenet, editor of the French IT and AI media Le Café du Geek.

Q: Could you describe the available startup programs? What types of startups are you helping, and what programs are available?

A. Lee Jun-woo: In Korea, there's a focus on supporting early-stage companies, typically those within seven years of inception. While government funding is available, many programs aim to provide startups with opportunities for investor relations (IR). They facilitate meetings with large corporations or venture capital investors, allowing startups to be evaluated and potentially receive investment.

Q: Do startups need to apply to participate in these programs? Are there special methods like office packages provided?

A. Lee Jun-woo: There are various support programs, often offering incubation spaces almost for free, along with various supportive packages. Once a company has developed some level of sustainability, it can participate in more individualized ventures, like connecting to funding opportunities or participating in international startup exhibitions to facilitate overseas expansion.

Q: It is understood that public institutions primarily drive startup incubation in Korea. Could you discuss the differences between Korea and France and if there are any plans to partner with private programs in Paris?

A. Lee Jun-woo: There are cultural differences. Korea needed rapid economic growth, so public institutions have significantly fostered rapid growth among startups. Koreans often admire the environment in France, where the private sector plays a leading role. However, each country is doing well according to its characteristics.
If opportunities arise, we hope to introduce Korean startups in France and vice versa. Initially, starting with introductions could eventually lead to providing spaces for mutual nurturing.

GBSA is considering organizing events like VivaTech to chart our future direction. While concrete plans are yet in the discussion phase, we're thinking in this direction.

An international-scale startup event, the 'Gyeonggi Startup Summit,' will be held in September in Pangyo and Gwanggyo in collaboration with Spain's South Summit.

In this interview, Lee Joon-woo expressed that fostering startups for global expansion is a key goal for Pangyo. GBSA is expanding its international network through interactions with foreign media and institutions. Such engagements are expected to facilitate collaborations with overseas startups and institutions, potentially leading to significant impacts.

Kim Seung Yeon
Gyeonggi Business & Science Accelerator
+82 31-776-4834
kimseungyeon@gbsa.or.kr
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¹ https://www.gbsa.or.kr/en/index.do
² https://www.pangyotechnovalley.org/eng/main/view