KITA to Establish ‘Startup Global Center’ in COEX

- Start operating in April next year… support startups’ exports and overseas expansion -

Total support center to help startups’ entry into overseas will be established in COEX in Samseong-dong, Seoul.

According to the Korea International Trade Association (Chairman, Kim Young-joo) on August 27, ‘Startup Global Center (tentative)’ to support startups’ expansion into other countries took its first step on August 23, starting with the announcement of bids for construction.

In the Startup Global Center, which will be established on the second floor in COEX in April next year, Specialized Accelerator (AC) with global experience and competence, will be placed to advise on the startups’ entry strategies to the global market and collaborate with overseas AC. By combining the export support know-how of the Korea International Trade Association, various export competency fostering programs tailored for each startup’ characteristics will be carried out.

Moreover, in the center, specialized programs to help startups to enter into global market will be operated all the time as there will be open lounges and co-working spaces for startups to network and share information and IR rooms and pitching center to attract domestic and foreign investment.

Prior to this, the Korea International Trade Association (KITA) established ‘start-up support center’ under the direct control of its vice chairman on August 1 to systematically support globalization of startups and set up a comprehensive support platform for promising startups.

Cho Sang-hyun, chief of the new center said, “The Startup Global Center is aiming to secure new growth engines and establish sustainable growth bases for Korean trade through the globalization of promising startups. He also added, “We will build a comprehensive platform to support the entire process of Korean startups to grow into the mainstream in the global business industry.”