South Korea: New land of opportunity for global startups

By February 1, 2020 April 29th, 2020 South Korea

As the first nation to commercialize 5G communications, Korea is well-matched to be a new land of opportunity for global startups to expand in. It is also widely considered as Asia’s tech hub, equipped with advanced infrastructure and technology.

Read on here to learn why foreign startups are moving to South Korea to do business.

Park Ji-hyun, director of German-based startup “Is It Fresh” said they decided to run their overseas branch in Korea because the country has outstanding comprehension of digital technology. The company is making sensor chips that can be attached to single units of instant noodles or milk, helping distributors easily manage their inventory.

“We are frequently asked questions about why we, a German-based company, chose Korea to do our business. I always tell them Korea has the fastest mobile download speeds in the world, which means government and company officials here have high level of comprehension in emerging technology such as big data and IoT,” he said.

(Article Source: The Korea Times)

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