Ministry of SMEs and Startups and Google Startup 'Changgu' Selected as Best Practice by American Chamber of Commerce in Korea

AmCham "Korean Mobile Startups Contribute to Overseas Expansion... A Model for Korea-US Corporate Cooperation"

[Asia Economy Reporter Moon Chaeseok] The startup program 'Changgu,' created jointly by the Ministry of SMEs and Startups and Google Korea, has been selected as an excellent Korea-US cooperation case by the American Chamber of Commerce in Korea (AMCHAM).

AMCHAM announced that on the afternoon of the 28th, it will present a commemorative plaque at the launch ceremony of the 4th Changgu cohort at the Google Startup Campus in Gangnam-gu, Seoul, and the commemorative meeting for the selection of excellent Korea-US cases. Representatives from AMCHAM, the Ministry of SMEs and Startups, Google Korea, Jaraneun Seed, and Silver Lake Investment will attend the meeting.

Changgu takes the first syllables of the Ministry of SMEs and Startups' 'Chang'eop Doyak Package' support project and 'Google Play.' Google Play supports overseas expansion of app and game development startups. The purpose of the Changgu program is to 'scale up' domestic startups into small and medium-sized enterprises and mid-sized companies.

James Kim, Chairman and CEO of AMCHAM, said in his opening remarks, "Since its launch in 2019, the Changgu program has greatly contributed to the growth and overseas expansion of Korean mobile startups through close cooperation among domestic startups, the Ministry of SMEs and Startups, and Google Korea, becoming a model of Korea-US corporate cooperation." He emphasized, "The strong network among (Korean) SMEs' clients, customers, and suppliers is the key to the success of (American companies') business in Korea," adding, "American companies have contributed to the prosperity of Korean SMEs and economic growth by providing investment, innovation, and jobs in response to (Korea's infrastructure support)."

Kim Kyunghoon, President of Google Korea, said, "As the name 'Changgu' suggests, we will nurture it as a sincere support program that opens the door for Korean startups to enter a bigger stage and provides a stepping stone for their leap," and promised, "We will continue to cooperate with the Korean government, including the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development, for the development of the Korean startup ecosystem."