The Ministry of SMEs and Startups held an opening ceremony in Seoul on July 8 for the K-Startup Centers (KSCs) in Singapore, Sweden and Finland. The purpose of the centers is to help South Korean startups do their business in those countries and interlink their startup ecosystems with that of South Korea.
Earlier, the South Korean government opened KSCs in New Delhi, Seattle and Tel Aviv last year. This year, a total of 279 startups applied for 92 memberships in the six KSCs. The KSC in Stockholm is for artificial intelligence and game startups and that in Helsinki is for digital health startups. The KSCs in Singapore, Israel, Seattle and India are for those in the fields of cybersecurity & fintech, education, agriculture & social technology, retail & blockchain, and electric vehicle & IT service, respectively.
The benefits of each selected startup include a financing of up to 80 million won, vouchers worth up to 30 million won and shared offices.