206 Indian SW Developers Join Domestic Venture Companies... "Helping to Alleviate Hiring Difficulties"

Korea Venture Business Association Signs MOU with Indian Institutes of Technology Alumni Foundation
201 Developers to Work on Projects Locally in India

A total of 206 software (SW) developers from India have joined domestic venture companies.

On October 30, 2023, the '2023 Venture Startup Talent Matching Festival' to address the software (SW) workforce shortage of venture companies is being held at COEX in Seoul. Ministry of SMEs and Startups website

The Ministry of SMEs and Startups announced on the 14th that it has hired 206 outstanding SW developers from India to support small and venture businesses struggling to recruit SW professionals.

Last year, the Ministry held three recruitment briefings in New Delhi to attract Indian SW developers who wish to work for Korean companies. The Korea Venture Business Association, the project’s managing organization, also signed a memorandum of understanding (MOU) with the Indian Institutes of Technology Alumni Foundation to facilitate smooth project implementation.

Last year, 358 domestic venture companies applied, and finally, 41 companies hired 206 Indian software developers.

Notably, among the 206 developers, 201 were hired remotely to carry out projects locally in India, allowing companies to connect with them quickly without the cumbersome procedures such as visa issuance. For the five developers who were hired by companies wishing for them to work in Korea, support was provided for visa issuance and initial living expenses.

The Indian developers are SW professionals with over three years of experience in various fields such as artificial intelligence (AI) development, mobile development, frontend development, and backend development.

A company representative participating in this project said, “We hired an Indian AI developer with five years of experience and are very satisfied overall with their work ability and performance,” adding, “There is also the advantage of quickly understanding local conditions through overseas talent.” The company also expressed plans for additional hiring.

This year’s project plans to recruit managing organizations by the 20th, prepare, and officially start from March. The ministry will monitor participating companies and continuously improve the project by reflecting their demands.

Kim Bong-deok, Venture Policy Officer at the Ministry of SMEs and Startups, said, “This year, we will continue to promote the project to help resolve the SW workforce shortage in small and venture companies and support global expansion. In particular, we will additionally explore the utilization of foreign students studying in Korea.”