[Report] Seeking Opportunities in Korea... Global Startup Festival 'ComeUp2023'

Over 700 Participants from 35 Countries
60% Composed of Overseas Companies

"It's truly real global."

Nhat Le, CEO of AirCity, toured the venue at 'COMEUP 2023' held on the 8th at the Dongdaemun Design Plaza (DDP) Art Hall in Jung-gu, Seoul. When a reporter asked, "How do you evaluate this year's COMEUP?" he said it has grown into a global event.

On the morning of the 8th, 'ComeUp 2023,' the largest startup event in Korea, is being held at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul.
[Photo by Yonhap News]

Founded in Vietnam in 2021, AirCity is a building management company that uses technology-based solutions. Through automation and remote control, it helps landlords save time and costs, and provides tenants with quick services such as repairs and cleaning. CEO Le explained, "Our company’s goal is to manage 100,000 residential buildings in major Southeast Asian cities, and we want to start business in Korea by 2025 through this COMEUP." He added, "I have been promoting the company around the world, and I can really feel that a lot of preparation has been made for this COMEUP. There seem to be many investors and visitors who could lead to actual business expansion."

Sokhna Seynabou SY, CEO of AW Tech from Senegal, also viewed this COMEUP as a 'field of opportunity.' Running a resource circulation-related company, she said, "Here, I want to showcase the technology I want to work on and look for companies that can collaborate, while learning about Korea’s new technologies to bring back home." She shared her participation impression, "Many institutions such as venture capital (VC) gave advice to help grow our company further, so I have already gained a lot."

Now in its fifth year, COMEUP started as Korea’s largest startup festival but is gradually growing into a global event. Overseas companies account for 60% of COMEUP 2023 participants. About 700 people from 35 countries including Saudi Arabia, United Arab Emirates (UAE), the United States, France, Switzerland, Japan, Vietnam, Senegal, and Indonesia are participating.

On the afternoon of the 8th, at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul, Nhat Le, CEO of Vietnamese startup AirCity (right), and co-founder Steven Le are taking a photo at 'ComeUp 2023'.

In particular, Saudi Arabia and the UAE attracted attention by setting up national pavilions. Lee Young, Minister of SMEs and Startups, showed interest by visiting the Saudi pavilion first. Sung Sang-yeop, Chairman of the Korea Venture Business Association, said, "It is remarkable that Middle Eastern countries came all the way to Korea to set up national pavilions," adding, "This will have a very positive impact on our companies," expressing his amazement.

At the top of the Saudi pavilion set up in the very center of DDP Art Hall Arena 1, the words 'Invest Saudi' were prominently displayed. Officials dressed in traditional costumes busily explained their companies to visitors. They also handed out dates, a traditional food. Yasser Alshurihi, CFO of Drahim from Riyadh, Saudi Arabia, said, "We want to find more partnerships in Korea," adding, "I have heard that Korea’s research and development (R&D) is at a considerable level, so we have high expectations for this event."

The ‘COMEUP Stars’ booth, composed of innovative startups, was busy welcoming investors and visitors. Selected by the Ministry of SMEs and Startups, COMEUP Stars prepared for this COMEUP through pre-matching with domestic and international investors and intensive mentoring. Hwang Yebin, manager of Agmo, an autonomous agricultural machinery startup, emphasized, "I prepared about 200 business cards, but they were all gone very quickly, which surprised me," adding, "Preparing for COMEUP and receiving support became an opportunity for us to grow one step further."

On the 8th, visitors are touring the Saudi Arabia pavilion at 'ComeUp 2023' held at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul. [Photo by Yonhap News]

On one side of the venue, an investor relations (IR) pitching stage was held. Divided into Rookie League and Rocket League, the Rookie League proceeded with two companies competing one-on-one. Attendees seated in front of the stage listened attentively to company presentations, jotting down notes on their phones or notebooks. COMEUP, which runs until the 10th, prepared conference sessions called Future Talk with themes based on startup growth stages.

A separately prepared business matching room consisted of 10 rooms labeled from A to J. Startup representatives and investors who needed to discuss business frequently moved in and out of the matching rooms. A VC official said, "Not only domestic but also some overseas companies look promising, so I plan to look into them further."

Sokhna Seynabou SY, CEO of AW Tech from Senegal, is taking a photo at 'ComeUp 2023' held on the 8th at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul.