Gyeonggi Province Governor Kim Dong-yeon pledged to foster more than 20 “unicorn companies” in Gyeonggi Province over the next five years, promising to “make Gyeonggi Province a startup paradise.”
At the launch ceremony of the “Gyeonggi Startup Council” held on the 26th at the Pangyo Gyeonggi Creative Economy Innovation Center International Conference Hall, Governor Kim said, “At the Davos Forum, I met global unicorn companies and said that as a presidential candidate, I would make South Korea a startup paradise, and as a candidate for Gyeonggi Province governor, I would make Gyeonggi Province a startup paradise.” He added, “Over the next five years, we will create at least 20 unicorn companies in Gyeonggi Province.”
Emphasizing clustering, networking, and globalization, Governor Kim stated, “Gathering together, networking, and internationalization or expanding globally?these three are the core of Gyeonggi Province’s startup policy. Let’s join forces.” He continued, “Through today’s council, we will do our best to establish infrastructure and create an ecosystem where startups can gather, network, and globalize. Let’s make Gyeonggi Province a startup paradise together.”
The Gyeonggi Startup Council, which held its launch ceremony on this day, is a consultative body for ▲global investment attraction, ▲discovering and nurturing promising startups, and ▲collaboration among startups, anchor companies, and domestic and foreign investors. The council consists of about 500 member companies, including the chairperson and 10 leaders from three groups focused on clustering, networking, and globalization.
The council chairperson is Lee Joo-wan, chairman of Megazone Cloud, a leading AI and cloud company. Megazone Cloud is the first unicorn company in Gyeonggi Province in the cloud industry, with sales reaching 1.7 trillion KRW (as of 2023), supporting cloud infrastructure and digital innovation.
Gyeonggi Province Governor Kim Dong-yeon is clapping at the 'Gyeonggi Startup Council Launch Ceremony' on the 26th. Photo by Gyeonggi Province
Chairman Lee Joo-wan emphasized, “Having managed a company for over 27 years, I believe that without the help of various institutions and those around me, Megazone Cloud and I would not be where we are today. As the chairperson of the Gyeonggi Startup Council, I will strive to make this council a lighthouse representing many startups that may feel lost now but will eventually find their way, just as I have experienced.”
The Gyeonggi Startup Council plans to revitalize the startup ecosystem through startup policy advice, innovation strategy development, open innovation support, and customized coaching for individual startups. Additionally, by operating seminars and meetings by division, it will strengthen startups’ global competitiveness and support their growth through various programs.
During the event, a town hall meeting was held with representatives of global unicorn companies to discuss the present and future of domestic startups. There was also a special lecture by a CES Innovation Award judge, one-on-one investment consultations with venture capital (VC) firms, and time for free exchange among participants.
Meanwhile, Gyeonggi Province is pursuing three key tasks to realize the vision of a “startup paradise”: establishing startup infrastructure, strengthening the startup ecosystem network, and supporting startups’ global expansion. By 2026, it plans to provide 200,000 pyeong (approximately 660,000 square meters) of startup space across 20 areas including Pangyo, activate investment attraction through networking between startups and support organizations, and lay the foundation for early-stage startup growth through customized support programs. It will also actively support overseas investment attraction and expansion by hosting an international startup investment expo.
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