Korea-China Venture Startup Summit Held... Establishing a Bridgehead for Entry into China

A Platform for Cooperation Fostered by Summit Diplomacy
Establishment of a $25 Million Fund with CMBI
"Continued Support for a Leap into the Global Market"

The Ministry of SMEs and Startups announced on January 7 that it held the Korea-China Venture Startup Summit at the Shanghai International Convention Center in China.

This event was organized to establish a foundation for cooperation between the Korea-China venture startup ecosystems and to support domestic companies seeking to enter the Chinese market, coinciding with President Lee Jae-myung's state visit to China. The summit featured sessions such as "Dialogue with Korea-China Venture Startups," the "Korea-China Investment Conference," and the "Korea-China Business Meetup." In addition, there was an exhibition showcasing products and technologies from outstanding domestic startups aiming to expand into China.

President Lee Jae-myung is taking a commemorative photo with attendees at the Korea-China Venture Startup Summit held on the 7th at the Shanghai International Convention Center in China. Photo by Yonhap News

The main event was attended by more than 400 ecosystem stakeholders, including high-level government officials from both countries, startups, venture capitalists, and large corporations. Representatives from leading venture startups in both Korea and China participated in a "Dialogue with Korea-China Venture Startups" under the theme "Korea-China Startup Ecosystem: From Connection to Joint Growth." Promising startup founders, investors, and researchers took the stage together to share their experiences with the Korea-China startup ecosystem and discuss directions for future cooperation.

Han Biqing, CEO of BrainCo, a leading Chinese unicorn, and Seo Beomseok, CEO of Lunit, shared their stories of driving technological innovation between the two countries. Yan Junjie, CEO of Chinese startup MiniMax, highlighted the characteristics of China's startup ecosystem and emphasized the need to connect with Korean talent.

In addition, Choi Hongseok, CEO of MindAI, and Ahn Junghyun, CEO of CNES-both Korean startups active in China-presented possibilities for collaboration by combining the technological strengths and market advantages of both countries. Huo Jianjun, CEO of CMB International (CMBI), explained the strengths of Korean startups from the perspective of Chinese investors and outlined plans for Korea-China cooperation in venture investment through the China Global Fund.

The Korea-China Investment Conference featured presentations on Asian investment trends, IR sessions for the Korea-China investment market, and panel discussions on cooperation strategies between the two countries. Notably, a signing ceremony was held for the Korea Venture Investment-CMBI Global Fund. The global fund, with CMBI as the general partner (GP), will be established at a scale of 25 million dollars, with 10 million dollars invested by the Korea Fund of Funds. The fund plans to invest at least the amount contributed by the Fund of Funds in domestic startups and serve as a bridge for Korean companies seeking to enter the Chinese market.

The Korea-China Business Meetup focused on practical business matching and investment consultations between startups and investors from both countries. Through programs such as startup IR, Korea-China networking sessions, and business matching, domestic startups were able to identify local partners in China and explore opportunities for joint ventures and technology cooperation.

A Korea-China Startup Exhibition Hall was also operated at the venue. Ten promising Korean startups hoping to enter the Chinese market showcased their innovative technologies and products to Chinese investors and companies participating in the event. Azibot, a leading robotics startup headquartered in Shanghai, exhibited its humanoid robot as well.

Han Seongsook, Minister of SMEs and Startups, stated, "The Korea-China Venture Startup Summit is an opportunity to translate the cooperative atmosphere fostered by summit diplomacy into tangible collaboration in the startup and venture investment sectors. We will continue to support the joint growth of Korea-China venture startups and their advancement into the global market, building on the momentum of this event."