OpenAI, Will It Invest and Collaborate with Korean Startups? Focus on Producing Results

Sam Altman CEO Actively Communicates with Government and Private Sector
Unusually Full Executive Attendance at Ministry of SMEs and Startups Event
Meetings with Startups... Discusses Cooperation with President Yoon

Sam Altman, CEO of OpenAI, who sparked the generative artificial intelligence (AI) boom with ChatGPT, is speaking at the 'K-Startup Meet Open AI' held on the 9th at 63 Square in Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

OpenAI, the developer of ChatGPT, could it become a partner to Korean startups comparable to Google?

Compared to any other country in the world, South Korea has a high utilization rate of AI technology and shows enthusiastic responses to ChatGPT. Sam Altman, the founder and CEO of OpenAI, who visited Korea for the first time, also showed special interest in Korean companies. On the morning of the 9th, he held meetings with government officials, startup representatives, and venture capitalists (VCs), and shortly afterward, he is scheduled to meet President Yoon Seok-yeol.

◆ Altman: "Korean companies are excellent... looking forward to cooperation" = At 11 a.m. that day, Altman was invited by the Ministry of SMEs and Startups to hold a dialogue session with about 100 startup founders at the 63 Building in Yeouido, Seoul.

When asked about his impression of Korea by Minister Lee Young of the Ministry of SMEs and Startups, Altman replied, "There are many excellent companies in Korea. I am also looking forward to cooperating with Korean companies." He praised Korea's high internet penetration rate and IT technology, saying, "I want to invest in Korean startups developing using our platform." Previously, as the head of the U.S. accelerator Y Combinator (YC), Altman praised, "Korean startups are very excellent. There are many talented people, and the entrepreneurial spirit is outstanding."

Altman is traveling around the world meeting heads of state, lawmakers, and regulators in various countries. So far, he has visited 18 countries. Just this week, he visited Middle Eastern countries such as Israel, Jordan, Qatar, and the United Arab Emirates (UAE), as well as India. He is assessing how each country is utilizing AI and gaining insights into the direction of technological development and policies.

There are two major differences between this visit to Korea and other countries. Usually, Altman visits alone or with a few executives, but in Korea, a large number of executives, including co-founder Greg Brockman, Chief Investment Officer Brad Lightcap, and key technologists, accompanied him. Notably, Brockman’s wife, Anna, was born in Korea, which is known to have increased their interest in Korea. Joanne Jang, a product manager who is also Korean-American, is visiting with them.

Also, unlike other countries where discussions focused on regulations, the core topic with the Ministry of SMEs and Startups was startup cooperation, leading to extensive communication with startup stakeholders. After the dialogue session, Altman and other executives had a sandwich lunch with Minister Lee and other ministry officials, followed by meetings with startup representatives and developers.

From 2 p.m., at the same venue, Altman attended a large-scale dialogue session for about 1,000 people jointly hosted by OpenAI and SoftBank Ventures and sponsored by the Ministry of SMEs and Startups. Lee Jun-pyo, CEO of SoftBank Ventures, and Kyunghyun Cho, a professor at New York University, discussed the innovations AI technology will bring and held a Q&A session with the audience alongside Altman.

Lee Young, Minister of SMEs and Startups, is shaking hands with Sam Altman, CEO of OpenAI, who sparked the generative artificial intelligence (AI) boom with ChatGPT, at the 'K-Startup Meet Open AI' held on the 9th at 63 Square in Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

◆ Meeting with President Yoon... discussing cooperation plans = Minister Lee repeatedly sent love calls to continue the relationship between OpenAI and Korea. He explained the background, saying, "When I contacted Altman in March, there was no plan to visit Korea. But he readily agreed to come to Korea, and unusually, many executives including founding members visited."

He expressed high expectations, saying, "There are many capable deep-tech startups in Korea, and through collaboration with OpenAI, we can share visions and move toward a more advanced direction." He also tried to find a connection with Korea by praising co-founder Brockman, who married a Korean woman, as a "national son-in-law."

Im Jung-wook, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, told reporters after the event, "We are running cooperation programs with global companies like Google, and we proposed a similar program with OpenAI." He added that OpenAI responded, "That sounds like a good idea. We provide workshops for developers, so let's discuss what we can do for Korean startups."

Google has been running the 'Changgu' program, named after the first syllables of 'startup' and 'Google Play,' for five years. Changgu is a growth support program that enhances the content of domestic application and game developers and helps them expand overseas.

Additionally, the Ministry of SMEs and Startups emphasized Korea’s semiconductor ecosystem, talent, and technical know-how, proposing a plan to jointly develop AI chips, to which OpenAI reportedly responded positively.

Altman is scheduled to meet President Yoon Seok-yeol in Yongsan to discuss ChatGPT technology and future industrial prospects. Minister Lee is also expected to attend the meeting to engage in detailed discussions on cooperation plans with Korean startups.

◆ "Powerful AI technology... need for social dialogue" = Altman and co-founder Brockman expressed a positive outlook on the future AI technology will change but also emphasized the need for appropriate regulation and social dialogue.

Altman predicted the societal changes AI technology will bring, saying, "Everything that was previously impossible, such as solving climate change and curing cancer, can be achieved," and "Creativity will have no limits." He added, "AI technology is a highly potential and powerful tool but can also cause harm," and "When creating regulations, benefits must be shared with many people."

During a Q&A session with startup representatives, regarding AI technology that develops virtual characters of deceased individuals, he said, "It is a very complex issue," and "Social dialogue related to human rights is necessary." He continued, "We must proceed cautiously with the business," adding, "AI has technical advantages but can also cause harm. Social dialogue is needed on how far to respect individual human rights."

Co-founder Brockman commented on regulatory issues, saying, "AI affects human activities in all sectors, so regulations should differ by sector," and "Regulations should be applied after understanding use cases, conducting small experimental trials, and considering potential problems and harms."