By Honorary Reporter Rosemarie Ann Cuevas from Philippines
Photos = Jo Tae Hyun

Merry Year Social Company (MYSC) on Nov. 15 hosted he K-Startup Grand Challenge (KSGC) Demo Day, a leading government-backed program by the Ministry of SMEs and Startups and managed by the Korea Institute of Startup & Entrepreneurship Development, at KT&G Sangsang Planet in Seoul.

Showcasing innovative ideas from nine international startups, this initiative aims to attract top entrepreneurial talent to the nation.

Attendees, participants and guests at the K-Startup Grand Challenge Demo Day on Nov. 15 take a group photo. 

Mentors share strategies for global market entry at the event's venture capital roundtable.

Attending the opening event, I was eager to explore this opportunity for foreign startups in Korea. The program was conducted in English, and the founders' pitches spanning innovations in technology and sustainability were both inspiring and insightful.

The conclusion featured a Q&A with Kim Jae-hyung, an MYSC senior associate in charge of the event. He said, "What stood out most was the founders' exceptional preparation and dedication. Each team showed a deep understanding of the Korean market, forming key partnerships and securing agreements that set them on a path for long-term growth. Their passion was evident in every presentation."

Demo Day brought together founders, mentors and investors from Korea, Vietnam, Singapore and France whose feedback helped the startups refine their strategies and form connections.

"Korea's startup ecosystem is rapidly evolving," Kim said. "MYSC plays a pivotal role in this transformation by bridging cultural and business gaps. Through tailored mentorship and business development support, we empower startups to navigate the complexities of entering a new market."

"This program is already producing success stories," Kim said. "Several startups have secured domestic partnerships and are finalizing incorporation in Korea. While it's still early to measure long-term outcomes, the progress we're seeing is promising."

Demo Day features presentations by startup CEOs (top two photos) and presenters talking to participants.

After the event, I found that the KSGC not only helps startups enter Korea but also shows the country’s strong commitment to innovation and global collaboration. It also provided an opportunity to see groundbreaking ideas and engage with the CEOs of participating startups.

msjeon22@korea.kr

*This article is written by a Korea.net Honorary Reporter. Our group of Honorary Reporters are from all around the world, and they share with Korea.net their love and passion for all things Korean.